For this BTC pullback, I still lean bullish on the idea that it may form a support-resistance swap here.
The daily area around 82,000 was the previous resistance zone. After breaking through, we now need to see whether it can turn into support. The daily EMA20 has also shifted upward to around the same level, and the price is still trading above it.
That’s why, for now, I’m treating this drop as a pullback after a move up. There is support evidence here, but it’s not something I can directly call a “sure bottom.”
Going forward, if it can hold, I still tend to look higher; but if the daily falls back into the original range and keeps failing to reclaim it, then we’ll need to reassess.$BTC
The daily area around 82,000 was the previous resistance zone. After breaking through, we now need to see whether it can turn into support. The daily EMA20 has also shifted upward to around the same level, and the price is still trading above it.
That’s why, for now, I’m treating this drop as a pullback after a move up. There is support evidence here, but it’s not something I can directly call a “sure bottom.”
Going forward, if it can hold, I still tend to look higher; but if the daily falls back into the original range and keeps failing to reclaim it, then we’ll need to reassess.$BTC
