BTC fell to 80,000 in the early hours before starting to recover. This is a post-drop rebound, not a trend reversal.
Trump said he wouldn’t strike Iran before the election. Oil prices fell, short sellers covered their positions, and crypto prices climbed from around 80,400 to 83,300. The catalyst was easing geopolitical tensions, not new buying.
The short-term outlook remains bearish. The structure of the decline from around 87,000 is still intact, the price remains below the MA99 (around 84,000), and ETFs are still seeing outflows. For now, this is just a technical rebound after holding 80,000. For the bulls to regain the initiative, the price needs to hold above 84,000 and do so on increased volume. If it can’t reclaim that level, the rebound may end and prices could continue falling.
Superman 100U DCA $BTC , Day 56, purchase price: $83314.01, amount purchased: 0.0012
Trump said he wouldn’t strike Iran before the election. Oil prices fell, short sellers covered their positions, and crypto prices climbed from around 80,400 to 83,300. The catalyst was easing geopolitical tensions, not new buying.
The short-term outlook remains bearish. The structure of the decline from around 87,000 is still intact, the price remains below the MA99 (around 84,000), and ETFs are still seeing outflows. For now, this is just a technical rebound after holding 80,000. For the bulls to regain the initiative, the price needs to hold above 84,000 and do so on increased volume. If it can’t reclaim that level, the rebound may end and prices could continue falling.
Superman 100U DCA $BTC , Day 56, purchase price: $83314.01, amount purchased: 0.0012