8.26 BTC Morning Analysis
After BTC surged to around 81,270 last night, it began to pull back and is now back near 78,000.
My assessment of this move hasn’t changed: it feels more like a shakeout after a spike rather than a trend reversal.
Since the rally started from 62,484, this current upswing structure has not yet been broken. After yesterday’s attempt above 81,000, it’s completely normal to see profit-taking realize, and the market has indeed started showing heavy selling pressure at the highs. What really needs to be watched now isn’t how much a single candlestick dropped, but whether the area around 77,800 can hold.
For the short term, I’m watching two key zones:
77,800—78,000: the first support/absorption zone. If there’s a quick reclaim after a pullback here, it shows that the bulls are still in control.
Around 76,800: the second line of defense—this is also the level where I’m more inclined to consider going long on dips. As long as there isn’t a breakdown with increased volume, the overall outlook remains range-bound but slightly bullish.
After BTC surged to around 81,270 last night, it began to pull back and is now back near 78,000.
My assessment of this move hasn’t changed: it feels more like a shakeout after a spike rather than a trend reversal.
Since the rally started from 62,484, this current upswing structure has not yet been broken. After yesterday’s attempt above 81,000, it’s completely normal to see profit-taking realize, and the market has indeed started showing heavy selling pressure at the highs. What really needs to be watched now isn’t how much a single candlestick dropped, but whether the area around 77,800 can hold.
For the short term, I’m watching two key zones:
77,800—78,000: the first support/absorption zone. If there’s a quick reclaim after a pullback here, it shows that the bulls are still in control.
Around 76,800: the second line of defense—this is also the level where I’m more inclined to consider going long on dips. As long as there isn’t a breakdown with increased volume, the overall outlook remains range-bound but slightly bullish.