Bitcoin’s rebound is pretty much running out of steam. It surged to an intraday high of 82,600, only to be firmly capped by resistance at 82,800.
Buying support around the current level is thinning rapidly, and new capital isn’t filling the gap. Below 80,000, there’s basically a liquidity vacuum. If 80,000 gives way, the next move could be a straight drop toward 75,000.
For spot holdings, trim what needs trimming and lock in what you can. Shorting futures near resistance is actually the better risk-reward play.
Most likely, we’ll see choppy downward movement through the last rate-setting meeting of the year around December 9. We can talk about scaling into a dip then. #BTC $BTC
Buying support around the current level is thinning rapidly, and new capital isn’t filling the gap. Below 80,000, there’s basically a liquidity vacuum. If 80,000 gives way, the next move could be a straight drop toward 75,000.
For spot holdings, trim what needs trimming and lock in what you can. Shorting futures near resistance is actually the better risk-reward play.
Most likely, we’ll see choppy downward movement through the last rate-setting meeting of the year around December 9. We can talk about scaling into a dip then. #BTC $BTC