BTC near $80K: breakout or pullback?
After a strong week-long move, Bitcoin is again hovering around the important $78K–$79K zone.
What’s interesting is that this move was supported by several factors at once: inflows into spot BTC ETFs, large short liquidations, and strong demand following a breakout of previous levels.
But now the most interesting part begins.
The mere fact that $79K was pierced does not mean that resistance has turned into support. The market needs to show whether buyers are ready to hold this zone after the short squeeze is over.
If $78K–$79K becomes support, the next important psychological target could be the $85K+ area.
If, however, BTC can’t manage to hold above, a pullback to lower levels is entirely possible.
📊 What would you do right now?
🟢 You would buy the breakout of $79K
🟡 You would wait for a retest of $78K–$79K
🔴 You would wait for a deeper pullback
⚪ Right now, you wouldn’t buy BTC
Personally, at the moment I’m paying more attention not to the breakout itself, but to whether BTC can turn $78K–$79K from resistance into support.
And you—would you buy the breakout or wait for a pullback?
#BitcoinBestWeekSinceMarch2023 #BTC☀ #Crypto #BinanceSquareBTC #BitcoinAnalysis
After a strong week-long move, Bitcoin is again hovering around the important $78K–$79K zone.
What’s interesting is that this move was supported by several factors at once: inflows into spot BTC ETFs, large short liquidations, and strong demand following a breakout of previous levels.
But now the most interesting part begins.
The mere fact that $79K was pierced does not mean that resistance has turned into support. The market needs to show whether buyers are ready to hold this zone after the short squeeze is over.
If $78K–$79K becomes support, the next important psychological target could be the $85K+ area.
If, however, BTC can’t manage to hold above, a pullback to lower levels is entirely possible.
📊 What would you do right now?
🟢 You would buy the breakout of $79K
🟡 You would wait for a retest of $78K–$79K
🔴 You would wait for a deeper pullback
⚪ Right now, you wouldn’t buy BTC
Personally, at the moment I’m paying more attention not to the breakout itself, but to whether BTC can turn $78K–$79K from resistance into support.
And you—would you buy the breakout or wait for a pullback?
#BitcoinBestWeekSinceMarch2023 #BTC☀ #Crypto #BinanceSquareBTC #BitcoinAnalysis