btc is now at 77,000u.
On the 21st, that candle directly pushed it up to 78,400. These past few days, it has been ranging between 77,000 and 78,000.
On the hourly chart, you can already see signs of a possible change in direction. The previous leg was quite strong, but now it’s clearly losing momentum. At this position, for the bulls to push higher further, it depends on whether new capital comes in; otherwise it will be hard to hold this level.
In 7 days, it has gained more than 20%. That gain was already not small. A pause here is normal. It doesn’t necessarily mean a shift to a bearish trend—rather, it’s about accumulating a wave of strength.
At 76,000, if it breaks below this level, there will definitely be a big pullback after this upswing. After the 79,000 resistance line is broken, we can continue to look for further upward movement.
This sideways movement has been going on for the past couple of days—eventually we’ll see which side can’t hold and breaks first, and then we’ll know which direction it moves. #btc $BTC
On the 21st, that candle directly pushed it up to 78,400. These past few days, it has been ranging between 77,000 and 78,000.
On the hourly chart, you can already see signs of a possible change in direction. The previous leg was quite strong, but now it’s clearly losing momentum. At this position, for the bulls to push higher further, it depends on whether new capital comes in; otherwise it will be hard to hold this level.
In 7 days, it has gained more than 20%. That gain was already not small. A pause here is normal. It doesn’t necessarily mean a shift to a bearish trend—rather, it’s about accumulating a wave of strength.
At 76,000, if it breaks below this level, there will definitely be a big pullback after this upswing. After the 79,000 resistance line is broken, we can continue to look for further upward movement.
This sideways movement has been going on for the past couple of days—eventually we’ll see which side can’t hold and breaks first, and then we’ll know which direction it moves. #btc $BTC
