$BTC 79748: The 80,000 level was lost this morning. After that, three consecutive hourly candles failed to reclaim it—a sign that no one was stepping in to buy.
The chart shows the 09:00 candle: volume was 819 coins, the highest of the last 12 candles.
It opened at 80168 and closed at 79756. Aggressive buys still accounted for 50.74% of that candle, so buyers hadn’t really backed off. Instead, the buy orders sitting below were eaten through. In other words, the price fell on its own—there was no one pushing it down.
What caused the sell-off? Really, no one was there to catch it. Two lines are overhead: MA20 at 80319 and MA50 at 80505.
Of the last 48 candles, only 14 closed above MA20.
A sustained move above 80319 would mean the gap has been filled; wait for confirmation before acting. If 79368 breaks, the next level to watch is 78600.
Losing a round-number level isn’t scary; what’s scary is losing it and seeing no one step in. Keep an eye on 80,000. Don’t chase.
Source: https://api.binance.com/api/v3/klines?symbol=BTCUSDT&interval=1h&limit=200 (200 1h candles)
Screenshot taken at 12:15 (UTC+8); the latest candle, at 12:00, is still in progress.
The chart shows the 09:00 candle: volume was 819 coins, the highest of the last 12 candles.
It opened at 80168 and closed at 79756. Aggressive buys still accounted for 50.74% of that candle, so buyers hadn’t really backed off. Instead, the buy orders sitting below were eaten through. In other words, the price fell on its own—there was no one pushing it down.
What caused the sell-off? Really, no one was there to catch it. Two lines are overhead: MA20 at 80319 and MA50 at 80505.
Of the last 48 candles, only 14 closed above MA20.
A sustained move above 80319 would mean the gap has been filled; wait for confirmation before acting. If 79368 breaks, the next level to watch is 78600.
Losing a round-number level isn’t scary; what’s scary is losing it and seeing no one step in. Keep an eye on 80,000. Don’t chase.
Source: https://api.binance.com/api/v3/klines?symbol=BTCUSDT&interval=1h&limit=200 (200 1h candles)
Screenshot taken at 12:15 (UTC+8); the latest candle, at 12:00, is still in progress.
