$BTC Rallied, then pulled back—the follow-through is still insufficient
BTC rose from around 81,500 to 83,269, then fell back to around 82,500. The easiest mistake to make is to see the price rebound and assume the preceding decline is over.
Yesterday, the focus was on whether 80,800 would hold as support and whether the price could reclaim 82,500. Today’s low did not move lower, suggesting that selling pressure has eased for now. But the price failed to hold after reaching around 83,300, which also shows that buyers have not yet stabilized it at a higher level.
Looking at futures trading volume, during the several hourly candles that declined after the rally, aggressive buying accounted for about 43%–48% of volume, with selling pressure still dominant. It’s not that there are no buyers at all; rather, the follow-through is not consistent enough.
If 83,300 can be reclaimed and held, then 84,300 would be worth watching as a potential retest. To the downside, the first level to watch is whether 82,300 holds. A break below it would mean the strength of the rebound needs to be reassessed, and the area around 81,800 would once again become a zone to watch for support.
For now, the key is not to label the rebound, but to see whether the market can sustain support at this price level.
The market will provide the answer. I’ll keep tracking how far it gets in confirming this move.
Follow my profile.
#BTC #比特币行情 #行情观察
BTC rose from around 81,500 to 83,269, then fell back to around 82,500. The easiest mistake to make is to see the price rebound and assume the preceding decline is over.
Yesterday, the focus was on whether 80,800 would hold as support and whether the price could reclaim 82,500. Today’s low did not move lower, suggesting that selling pressure has eased for now. But the price failed to hold after reaching around 83,300, which also shows that buyers have not yet stabilized it at a higher level.
Looking at futures trading volume, during the several hourly candles that declined after the rally, aggressive buying accounted for about 43%–48% of volume, with selling pressure still dominant. It’s not that there are no buyers at all; rather, the follow-through is not consistent enough.
If 83,300 can be reclaimed and held, then 84,300 would be worth watching as a potential retest. To the downside, the first level to watch is whether 82,300 holds. A break below it would mean the strength of the rebound needs to be reassessed, and the area around 81,800 would once again become a zone to watch for support.
For now, the key is not to label the rebound, but to see whether the market can sustain support at this price level.
The market will provide the answer. I’ll keep tracking how far it gets in confirming this move.
Follow my profile.
#BTC #比特币行情 #行情观察