Update $BTC
Price: 76,504$
It has dropped from the ~78K area after a clear rejection near 79,400–79,900$.
1️⃣ The 75,500$ level is the key now
This is Fib 0.236, and price is approaching it.
I’m watching two scenarios:
🟢 The bullish scenario
Price touches 75,500$
It wicks below it or tests it
Then it returns and closes the 4H above 75,500$
Here, a rebound could begin toward: 77,500 → 79,400–79,900$
🔴 The bearish scenario
A clear 4H close below 75,500$
Then I will no longer treat 75.5K as support.
The next target becomes 73,104$
And if that’s broken too → 71,107$
2️⃣ RSI is much better now
RSI dropped from the 84+ zone to 68.64.
This matters a lot:
The market is no longer in a state of extreme buying saturation like in the previous picture, but that doesn’t mean the correction is over.
If RSI drops to 55–60 while price stays above 73.1K, it would be healthier for rebuilding the upward move.
Price: 76,504$
It has dropped from the ~78K area after a clear rejection near 79,400–79,900$.
1️⃣ The 75,500$ level is the key now
This is Fib 0.236, and price is approaching it.
I’m watching two scenarios:
🟢 The bullish scenario
Price touches 75,500$
It wicks below it or tests it
Then it returns and closes the 4H above 75,500$
Here, a rebound could begin toward: 77,500 → 79,400–79,900$
🔴 The bearish scenario
A clear 4H close below 75,500$
Then I will no longer treat 75.5K as support.
The next target becomes 73,104$
And if that’s broken too → 71,107$
2️⃣ RSI is much better now
RSI dropped from the 84+ zone to 68.64.
This matters a lot:
The market is no longer in a state of extreme buying saturation like in the previous picture, but that doesn’t mean the correction is over.
If RSI drops to 55–60 while price stays above 73.1K, it would be healthier for rebuilding the upward move.
