Market maker’s perspective: $BTC midday snapshot — 10:00 1H close fell below 80,000; this afternoon, watch whether the close confirms it
📊 12:37 snapshot (OKX perpetuals)
Current price around 79,653
24h high 80,822.6 / low 79,427.5
Funding rate 0.01%/8h, near zero, unchanged
OI around 32,605.2 coins, about $2.597 billion, up around 897.6 coins from 31,707.6 coins at 09:50
📌 Morning price action (all figures based on 1H closes)
08:00 close 80,200.7; morning high 80,357.5
09:00 close 80,039.7; lower wick touched exactly 80,000
10:00 close 79,796.5; 1H close fell below 80,000
11:00 close 79,792; high 79,911.3; did not reclaim 80,000 at the close
12:00 candle still forming; current price around 79,653; lower wick has reached 79,646.3; close not yet set
The distance from the morning high to the low was around 711 points, but one key distinction needs to be clear:
The 79,663.3 level—the lower boundary in this recap—was breached by both the 11:00 lower wick at 79,611.5 and the 12:00 lower wick at 79,646.3, but it has not been broken by a 1H close even once. A wick breaking it doesn’t count; a close below it does.
If I were the market maker, I wouldn’t need to chase the price down this morning:
After the 10:00 close fell below 80,000, the 11:00 candle didn’t even reclaim 80,000 at the close. That suggests buying interest is cooling, not that buyers are rushing in. I wouldn’t need to move my holdings in a hurry; this afternoon, I’d just watch two closing levels and let the market reveal its direction.
Retail traders following the market maker should wait for confirmation, not guess where the candle will close:
A 1H close back above 80,000 would pause this morning’s breakdown; then watch the morning high of 80,357.5
A 1H close below 79,663.3 would extend the move down; then watch the 24h low of 79,427.5
Until one of these two closing levels is reached, moves above or below them by wicks alone are not signals.
Invalidation: A 1H close back above 80,000 invalidates this post’s view that “the breakdown points to weakness”; a 1H close below 79,663.3 confirms that the bearish view remains in force.
For discussion purposes only; not investment advice.
#BinanceSquare #BTC #MarketMakerPerspective
📊 12:37 snapshot (OKX perpetuals)
Current price around 79,653
24h high 80,822.6 / low 79,427.5
Funding rate 0.01%/8h, near zero, unchanged
OI around 32,605.2 coins, about $2.597 billion, up around 897.6 coins from 31,707.6 coins at 09:50
📌 Morning price action (all figures based on 1H closes)
08:00 close 80,200.7; morning high 80,357.5
09:00 close 80,039.7; lower wick touched exactly 80,000
10:00 close 79,796.5; 1H close fell below 80,000
11:00 close 79,792; high 79,911.3; did not reclaim 80,000 at the close
12:00 candle still forming; current price around 79,653; lower wick has reached 79,646.3; close not yet set
The distance from the morning high to the low was around 711 points, but one key distinction needs to be clear:
The 79,663.3 level—the lower boundary in this recap—was breached by both the 11:00 lower wick at 79,611.5 and the 12:00 lower wick at 79,646.3, but it has not been broken by a 1H close even once. A wick breaking it doesn’t count; a close below it does.
If I were the market maker, I wouldn’t need to chase the price down this morning:
After the 10:00 close fell below 80,000, the 11:00 candle didn’t even reclaim 80,000 at the close. That suggests buying interest is cooling, not that buyers are rushing in. I wouldn’t need to move my holdings in a hurry; this afternoon, I’d just watch two closing levels and let the market reveal its direction.
Retail traders following the market maker should wait for confirmation, not guess where the candle will close:
A 1H close back above 80,000 would pause this morning’s breakdown; then watch the morning high of 80,357.5
A 1H close below 79,663.3 would extend the move down; then watch the 24h low of 79,427.5
Until one of these two closing levels is reached, moves above or below them by wicks alone are not signals.
Invalidation: A 1H close back above 80,000 invalidates this post’s view that “the breakdown points to weakness”; a 1H close below 79,663.3 confirms that the bearish view remains in force.
For discussion purposes only; not investment advice.
#BinanceSquare #BTC #MarketMakerPerspective
