$BTC Even the best weekly close in eight months couldn't keep it going. I'm leaning bearish in the short term!
Hey everyone, BTC just posted its best weekly close in eight months. So what happened? It faded after the spike, and stalled as soon as the U.S. session opened on Monday. Cointelegraph said it too: BTC failed to break higher, and resistance on lower time frames has already pushed it back down.
The data makes it even clearer: the 4-hour candle opened at 86216 and closed at 85270, down 1.1%, after reaching a high of 86725 before pulling back. The highs of the last four 15-minute candles have steadily fallen from 85674 to 85428, while the low dropped to 85174—a clear weakening trend. Even more concerning, volume in the most recent two-hour period was up 141.87% compared with the prior two hours. A drop on rising volume is not a good sign.
Some people are bringing up Metaplanet, saying it plans to keep buying BTC with 15% of its total assets. Guys, that's a long-term story. Short-term price can still fall, so don't let conviction keep you stuck in a trade.
My view is clear: bearish in the short term. 86750 is firm resistance overhead. As long as price can't reclaim it, I'll stick with a bearish outlook. The key level at 85950 has already broken, and I'm watching 85150 as support and my current target.
Don't chase the drop. Wait for a bounce toward 85950 and see if it meets resistance before considering a trade. Remember, if BTC gets back above 86750 and holds, I'll withdraw my short-term bearish view.
Do you think this is a fakeout or a real drop? Let's discuss in the comments!
$BTC #比特币 #Bearish
Hey everyone, BTC just posted its best weekly close in eight months. So what happened? It faded after the spike, and stalled as soon as the U.S. session opened on Monday. Cointelegraph said it too: BTC failed to break higher, and resistance on lower time frames has already pushed it back down.
The data makes it even clearer: the 4-hour candle opened at 86216 and closed at 85270, down 1.1%, after reaching a high of 86725 before pulling back. The highs of the last four 15-minute candles have steadily fallen from 85674 to 85428, while the low dropped to 85174—a clear weakening trend. Even more concerning, volume in the most recent two-hour period was up 141.87% compared with the prior two hours. A drop on rising volume is not a good sign.
Some people are bringing up Metaplanet, saying it plans to keep buying BTC with 15% of its total assets. Guys, that's a long-term story. Short-term price can still fall, so don't let conviction keep you stuck in a trade.
My view is clear: bearish in the short term. 86750 is firm resistance overhead. As long as price can't reclaim it, I'll stick with a bearish outlook. The key level at 85950 has already broken, and I'm watching 85150 as support and my current target.
Don't chase the drop. Wait for a bounce toward 85950 and see if it meets resistance before considering a trade. Remember, if BTC gets back above 86750 and holds, I'll withdraw my short-term bearish view.
Do you think this is a fakeout or a real drop? Let's discuss in the comments!
$BTC #比特币 #Bearish
