BTC order book analysis:
The bearish view still holds. 76K is the current watershed for the market. The daily chart’s overall structure has not yet been broken.
If 76K–77K can be held—especially if, after a wick/pin-prick, price quickly snaps back—then if the 4-hour chart forms a higher high and higher low, it would indicate that buy-side demand is still present, and only then would there be grounds to look at 79K–80K. This morning, it tested 76K again and held. In the short term, the bulls do appear to be slightly stronger. But the bearish logic remains unchanged.
If the 4-hour chart validly breaks below 76K, and the candlestick bodies continue to close below 76K, the current rebound structure will clearly weaken. The next target would directly be 74K.
In the short term, around 78.2K, we’ll look for another opportunity to go short. If the price cannot break above 79K, then most likely it will still pull back to 76K, or even reach 74.8K.
If 76K holds, we can first look for a rebound. However, until it breaks above 79K, the bearish approach should not be withdrawn.
The bearish view still holds. 76K is the current watershed for the market. The daily chart’s overall structure has not yet been broken.
If 76K–77K can be held—especially if, after a wick/pin-prick, price quickly snaps back—then if the 4-hour chart forms a higher high and higher low, it would indicate that buy-side demand is still present, and only then would there be grounds to look at 79K–80K. This morning, it tested 76K again and held. In the short term, the bulls do appear to be slightly stronger. But the bearish logic remains unchanged.
If the 4-hour chart validly breaks below 76K, and the candlestick bodies continue to close below 76K, the current rebound structure will clearly weaken. The next target would directly be 74K.
In the short term, around 78.2K, we’ll look for another opportunity to go short. If the price cannot break above 79K, then most likely it will still pull back to 76K, or even reach 74.8K.
If 76K holds, we can first look for a rebound. However, until it breaks above 79K, the bearish approach should not be withdrawn.
