You want to see the bulls of $BTC step in here. Otherwise, we could face a deeper pullback, below 80K.
We’ve closed above the range and are now retesting its structural integrity. If price falls back below the range and fails to reclaim it, that would invalidate the range. We don’t need another sweep of the lows for liquidity—we’ve already seen around $2 billion in liquidations.
In my view, that would actually show more weakness than strength.
What we need now is strength. Buyers have to show their hand. Otherwise, the defense of 80K may just be bait to draw people into the range before a move toward 76–78K.
If we’re going higher, this is a key area.
Quote @KillaXBT: $BTC closed the week above the previous wick low. If we pull back into the 82.5–81.9K area, it’s crucial that the bulls defend it. We don’t have to retest it, but with the 14th approaching, it’s definitely possible. This is the area where you want to see buyers step in and confirm that we’ve reclaimed the range.…
We’ve closed above the range and are now retesting its structural integrity. If price falls back below the range and fails to reclaim it, that would invalidate the range. We don’t need another sweep of the lows for liquidity—we’ve already seen around $2 billion in liquidations.
In my view, that would actually show more weakness than strength.
What we need now is strength. Buyers have to show their hand. Otherwise, the defense of 80K may just be bait to draw people into the range before a move toward 76–78K.
If we’re going higher, this is a key area.
Quote @KillaXBT: $BTC closed the week above the previous wick low. If we pull back into the 82.5–81.9K area, it’s crucial that the bulls defend it. We don’t have to retest it, but with the 14th approaching, it’s definitely possible. This is the area where you want to see buyers step in and confirm that we’ve reclaimed the range.…