$BTC This pullback really hits hard!!!
The big coin quickly crashed from around 81200 down to 78500. Not long after it broke through 80,000, it slipped back into the familiar sideways trading range
Right now, it’s not just a simple matter of bullish vs bearish—both sides are fighting again for control
During the earlier rally, divergences showed up on the hourly timeframe. The trading volume didn’t keep expanding. Profits from those higher levels and leveraged longs were concentrated and cashed out, which then amplified the speed of this retracement
Next, focus on 77500—76500
This is the core support zone after the earlier breakout, and also the real area to judge the market’s strength and weakness
If it holds and then shows a rebound with a stop to the selloff, it suggests the uptrend structure is still intact. This move is more like a high-level shakeout and de-leveraging
As the pullback loses intensity, it may actually give longs fresh opportunities to buy the dips
If 76500 is effectively broken and cannot be reclaimed on the rebound, the short-term structure will clearly weaken. Then we should continue to watch 75500 and around 74200
On the upside first look at 79000—79500. Only after it recaptures 80000 will the bulls truly regain the rhythm, and then it will have the qualification to challenge 81200—82000 again
Tonight Beijing time at 20:30, there will be PCE data released, along with the U.S. Q2 GDP revision
Before the data lands, the chart is likely to whip both ways with intraday spikes
At this time, don’t go all-in to bet on direction, and don’t chase after a single K-line
Wait for the data to land first, then see whether there is real support near 77500
Holding means it’s just a shakeout; losing it means the adjustment is truly expanding #美国加密股指数涨5.04% $ETH
The big coin quickly crashed from around 81200 down to 78500. Not long after it broke through 80,000, it slipped back into the familiar sideways trading range
Right now, it’s not just a simple matter of bullish vs bearish—both sides are fighting again for control
During the earlier rally, divergences showed up on the hourly timeframe. The trading volume didn’t keep expanding. Profits from those higher levels and leveraged longs were concentrated and cashed out, which then amplified the speed of this retracement
Next, focus on 77500—76500
This is the core support zone after the earlier breakout, and also the real area to judge the market’s strength and weakness
If it holds and then shows a rebound with a stop to the selloff, it suggests the uptrend structure is still intact. This move is more like a high-level shakeout and de-leveraging
As the pullback loses intensity, it may actually give longs fresh opportunities to buy the dips
If 76500 is effectively broken and cannot be reclaimed on the rebound, the short-term structure will clearly weaken. Then we should continue to watch 75500 and around 74200
On the upside first look at 79000—79500. Only after it recaptures 80000 will the bulls truly regain the rhythm, and then it will have the qualification to challenge 81200—82000 again
Tonight Beijing time at 20:30, there will be PCE data released, along with the U.S. Q2 GDP revision
Before the data lands, the chart is likely to whip both ways with intraday spikes
At this time, don’t go all-in to bet on direction, and don’t chase after a single K-line
Wait for the data to land first, then see whether there is real support near 77500
Holding means it’s just a shakeout; losing it means the adjustment is truly expanding #美国加密股指数涨5.04% $ETH
