$BTC update, Support broken, what's next?
In my previous #BTC analysis, I was watching the support level I had marked closely.
$BTC
has now broken through that support and continued moving lower, showing that the bearish pressure was not just a simple liquidity grab.
The important thing now is what happens next.๐ค๐ค
Price is currently trading below the broken support, and unless BTC manages to reclaim that level, the next area I'm watching is the next MAJOR SUPPORT around $75.4k
๐ My current observation:
The previous support has now become an important level to watch.
๐ข If BTC moves back above it and holds, the breakdown could eventually turn into a false break.
๐ด But if BTC continues rejecting below the broken support, sellers may continue pushing price toward the next major support as you can all see on the chart below๐.
๐ฏ Current possible signal
For now, I'm watching for either:
1๏ธโฃ A reclaim of the broken support followed by a strong close above it โ possible sign that sellers are losing control.
2๏ธโฃ Continued rejection below the broken support and another break of the recent low โ possible confirmation that BTC is targeting the next support around $75.4k
At the moment, the path toward the next support remains open, but I won't assume $BTC will reach it until price confirms further bearish continuation.
The key question now: Will #BTC reclaim the broken support, or continue its move toward $75.4k? ๐
#priceaction
#CryptoAnalysis๐๐๐๐ ๐
In my previous #BTC analysis, I was watching the support level I had marked closely.
$BTC
has now broken through that support and continued moving lower, showing that the bearish pressure was not just a simple liquidity grab.
The important thing now is what happens next.๐ค๐ค
Price is currently trading below the broken support, and unless BTC manages to reclaim that level, the next area I'm watching is the next MAJOR SUPPORT around $75.4k
๐ My current observation:
The previous support has now become an important level to watch.
๐ข If BTC moves back above it and holds, the breakdown could eventually turn into a false break.
๐ด But if BTC continues rejecting below the broken support, sellers may continue pushing price toward the next major support as you can all see on the chart below๐.
๐ฏ Current possible signal
For now, I'm watching for either:
1๏ธโฃ A reclaim of the broken support followed by a strong close above it โ possible sign that sellers are losing control.
2๏ธโฃ Continued rejection below the broken support and another break of the recent low โ possible confirmation that BTC is targeting the next support around $75.4k
At the moment, the path toward the next support remains open, but I won't assume $BTC will reach it until price confirms further bearish continuation.
The key question now: Will #BTC reclaim the broken support, or continue its move toward $75.4k? ๐
#priceaction
#CryptoAnalysis๐๐๐๐ ๐
