The Bitcoin short at 84,000 got filled. Price is now 83,500. Stop-loss at 85,000, target at 82,000; if it breaks below that, watch 80,200.
Yesterday at 4:30 p.m., it surged to 84,074 and got knocked back as soon as it touched that level. The short entry was filled right on cue.
This is already the fourth time Bitcoin has been capped at 84,000. The day before yesterday, it surged three times—to 84,072, 84,163, and 84,231. Yesterday, on the fourth attempt, it only made it to 84,074.
The peak was higher each time during the first three attempts. Now it’s starting to turn lower.
What does that mean? On the first three attempts, buyers managed to push the price a little higher each time. By the fourth attempt, it couldn’t even reach the previous high, which suggests the upward momentum has run out. Sellers are still up there, while buyers below are the first to lose steam.
A top doesn’t have to form with one big red candle. More often, it looks like this: each attempt loses momentum until the price eventually falls back on its own.
Keep holding the short. 82,000 is the first target. If it really breaks below that, watch 80,200.
#BTC $BTC
Yesterday at 4:30 p.m., it surged to 84,074 and got knocked back as soon as it touched that level. The short entry was filled right on cue.
This is already the fourth time Bitcoin has been capped at 84,000. The day before yesterday, it surged three times—to 84,072, 84,163, and 84,231. Yesterday, on the fourth attempt, it only made it to 84,074.
The peak was higher each time during the first three attempts. Now it’s starting to turn lower.
What does that mean? On the first three attempts, buyers managed to push the price a little higher each time. By the fourth attempt, it couldn’t even reach the previous high, which suggests the upward momentum has run out. Sellers are still up there, while buyers below are the first to lose steam.
A top doesn’t have to form with one big red candle. More often, it looks like this: each attempt loses momentum until the price eventually falls back on its own.
Keep holding the short. 82,000 is the first target. If it really breaks below that, watch 80,200.
#BTC $BTC