"‘BTC OG inside story’—the agent said that consolidation might not be more than halfway done yet."
When I hear that, it sounds like fortune-telling: it didn’t say how long, nor how the move would be counted as halfway done.
But he did point to something more concrete: spot buy-side demand is still there, but the strength has weakened. For now, it can’t absorb the sell pressure above 82,000.
Now BTC is at 77,962, still more than four thousand dollars away from 82,500. It’s not that the level is just ‘high’; after the 82.3k attempt failed to hold, a whole row of trapped positions piled up above. Nobody wants to be the first to act at this spot.
So chasing a breakout is basically betting that spot buying will suddenly return. Shorting into strength means pushing through the psychological level of 82,500. The odds aren’t good.
Waiting isn’t shameful.
When I hear that, it sounds like fortune-telling: it didn’t say how long, nor how the move would be counted as halfway done.
But he did point to something more concrete: spot buy-side demand is still there, but the strength has weakened. For now, it can’t absorb the sell pressure above 82,000.
Now BTC is at 77,962, still more than four thousand dollars away from 82,500. It’s not that the level is just ‘high’; after the 82.3k attempt failed to hold, a whole row of trapped positions piled up above. Nobody wants to be the first to act at this spot.
So chasing a breakout is basically betting that spot buying will suddenly return. Shorting into strength means pushing through the psychological level of 82,500. The odds aren’t good.
Waiting isn’t shameful.