BTC surged to 84309, then slipped back to 84145. Volume rose but the price didn’t—I'm watching for a pullback to 84000.
$BTC This move looks a little shaky. The four-hour candle opened at 84150 and closed at 84145, basically going nowhere. It touched a high of 84379 before being pushed back down, showing that there is real selling pressure around 84400.
Now look at the four 15-minute candles from the past hour: the highs of the first two were both 84265, while the next two climbed to 84309, but the price then slipped back to close at 84145. The lows of the earlier candles had gradually risen from 84154 to 84176 and 84228, but the final candle plunged straight to 84104. Buyers didn’t follow through after the surge, and there was also selling into the close. Most importantly, volume over the past two hours was 111.89% higher than in the preceding two hours. Volume picked up, but the price still couldn’t break above 84400. This looks more like someone selling into the rebound than building up for a push higher.
The news isn’t helping either. CoinDesk reported that wallets linked to the U.S. government transferred more than $100 million worth of BTC and BNB. Although no sale has been confirmed, the potential selling pressure hanging over the market is enough to make short-term traders wary of chasing prices higher.
My approach is straightforward: 84200 is the key short-term level. If the price can’t hold above it, I lean bearish, with 84000 as the first level to watch below. If it reclaims and holds above 84400, I’ll drop this bearish view and won’t stubbornly hold on to it.
I’m not chasing longs in the short term. I’ll wait for a pullback and confirmation before deciding.
$BTC This move looks a little shaky. The four-hour candle opened at 84150 and closed at 84145, basically going nowhere. It touched a high of 84379 before being pushed back down, showing that there is real selling pressure around 84400.
Now look at the four 15-minute candles from the past hour: the highs of the first two were both 84265, while the next two climbed to 84309, but the price then slipped back to close at 84145. The lows of the earlier candles had gradually risen from 84154 to 84176 and 84228, but the final candle plunged straight to 84104. Buyers didn’t follow through after the surge, and there was also selling into the close. Most importantly, volume over the past two hours was 111.89% higher than in the preceding two hours. Volume picked up, but the price still couldn’t break above 84400. This looks more like someone selling into the rebound than building up for a push higher.
The news isn’t helping either. CoinDesk reported that wallets linked to the U.S. government transferred more than $100 million worth of BTC and BNB. Although no sale has been confirmed, the potential selling pressure hanging over the market is enough to make short-term traders wary of chasing prices higher.
My approach is straightforward: 84200 is the key short-term level. If the price can’t hold above it, I lean bearish, with 84000 as the first level to watch below. If it reclaims and holds above 84400, I’ll drop this bearish view and won’t stubbornly hold on to it.
I’m not chasing longs in the short term. I’ll wait for a pullback and confirmation before deciding.
