$BTC Last night they said to first watch 77K; however, the low already dipped to 76.4K. The direction is right, but the most common mistake now is to chase a short only after it breaks below.
Last night the Nasdaq fell by about 1%, the S&P fell by about 0.7%, and the 10-year US Treasury yield rose to around 4.8%. Crude oil remains at high levels, and the external environment is still tilted toward Risk-Off. There’s also no clear sign yet that BTC has turned stronger.
Next, I only watch two levels:
Reclaim and hold 77.7K—78K: This pullback may be a sweep. On the bounce, first look for 78.5K.
Break back below 76.4K again: Weakness continues. I’m not in a hurry to buy longs for now.
My bias is still bearish, but I won’t chase shorts at low levels.
Do you think 76.4K was a liquidity sweep, or the starting point of a new leg down?
This will be kept publicly documented for now; I’ll come back tonight to review.
Data source: Binance, Reuters｜Beijing time 09:30
$BTC #BTC #Bitcoin
Last night the Nasdaq fell by about 1%, the S&P fell by about 0.7%, and the 10-year US Treasury yield rose to around 4.8%. Crude oil remains at high levels, and the external environment is still tilted toward Risk-Off. There’s also no clear sign yet that BTC has turned stronger.
Next, I only watch two levels:
Reclaim and hold 77.7K—78K: This pullback may be a sweep. On the bounce, first look for 78.5K.
Break back below 76.4K again: Weakness continues. I’m not in a hurry to buy longs for now.
My bias is still bearish, but I won’t chase shorts at low levels.
Do you think 76.4K was a liquidity sweep, or the starting point of a new leg down?
This will be kept publicly documented for now; I’ll come back tonight to review.
Data source: Binance, Reuters｜Beijing time 09:30
$BTC #BTC #Bitcoin
