Why do I still think that the bounce $BTC isn’t over?
The latest move looks weak, but the volume data says otherwise.
The bearish candles from 09.08–14.08 are noticeably shorter than during the decline 22.07–31.07.
And the maximum sell volume in the new period turned out to be lower even than the minimum volume of the bearish candles from the previous decline.
This means the active selling pressure is currently weaker.
My base scenario:
First, BTC sweeps the lower liquidity in the 61,450–62,200 zone, then stabilizes and starts a new bounce.
Key levels:
62,270 — support 1
61,300 — support 2
65,500–67,300 — the upper liquidity zone
By probability:
Scenario 2 > Scenario 1 > Scenario 3
But if BTC breaks 61,300 on rising volume, the whole scenario will have to be reconsidered.
For now, I don’t see any reason to bury this bounce prematurely. 🧐
Not financial advice.
The latest move looks weak, but the volume data says otherwise.
The bearish candles from 09.08–14.08 are noticeably shorter than during the decline 22.07–31.07.
And the maximum sell volume in the new period turned out to be lower even than the minimum volume of the bearish candles from the previous decline.
This means the active selling pressure is currently weaker.
My base scenario:
First, BTC sweeps the lower liquidity in the 61,450–62,200 zone, then stabilizes and starts a new bounce.
Key levels:
62,270 — support 1
61,300 — support 2
65,500–67,300 — the upper liquidity zone
By probability:
Scenario 2 > Scenario 1 > Scenario 3
But if BTC breaks 61,300 on rising volume, the whole scenario will have to be reconsidered.
For now, I don’t see any reason to bury this bounce prematurely. 🧐
Not financial advice.