After three days of grinding against the top of the range, it finally broke through.
81300 was still the level we were talking about this morning. By 4 p.m., this 4-hour candle had reached 81500, with the current price at 81462, up 2.11% over 24 hours. Honestly, this breakout is pretty interesting: the 04:00 candle dipped to 81300 before recovering to close at 80909; at 08:00, it tested 81226 and closed at 81145; at 12:00, volume shrank to 966 coins as price ground its way to 81082. Volume kept dwindling, and I thought we were about to go back to sleep. Then the 16:00 candle opened and pushed straight up. 81500 is a new high for this range-bound move.
But let’s be clear: this candle has only been open for half an hour, with volume at 371 coins, so it’s too early to say the breakout has held. There’s just one test for confirmation: the candle must not close back below 81300. If 81300 turns from a ceiling into a floor and holds, then 82500 is the next level worth discussing. If it doesn’t hold, 80909 and 80638 are waiting below—in which case, the breakout was all for nothing.
The broader market is lending a hand, at least: $ETH 2373 is up 2.63%, $SOL 102.98 is up 3.15%, and BNB is at 750.65, up 1.93%. It’s not just Bitcoin holding things up. The Fear and Greed Index is at 51, and the plaza widget is at 46—both neutral. Nobody’s getting carried away, and nobody’s panicking.
The rate decision at 2 a.m. tonight, followed by the speech at 2:30 a.m., is just around the corner. With 81300 broken at this crucial moment, is this an early head start or a bull trap? The closing price will tell. I’m leaving my position unchanged for now and will take another look once this 4-hour candle closes.
$BTC
81300 was still the level we were talking about this morning. By 4 p.m., this 4-hour candle had reached 81500, with the current price at 81462, up 2.11% over 24 hours. Honestly, this breakout is pretty interesting: the 04:00 candle dipped to 81300 before recovering to close at 80909; at 08:00, it tested 81226 and closed at 81145; at 12:00, volume shrank to 966 coins as price ground its way to 81082. Volume kept dwindling, and I thought we were about to go back to sleep. Then the 16:00 candle opened and pushed straight up. 81500 is a new high for this range-bound move.
But let’s be clear: this candle has only been open for half an hour, with volume at 371 coins, so it’s too early to say the breakout has held. There’s just one test for confirmation: the candle must not close back below 81300. If 81300 turns from a ceiling into a floor and holds, then 82500 is the next level worth discussing. If it doesn’t hold, 80909 and 80638 are waiting below—in which case, the breakout was all for nothing.
The broader market is lending a hand, at least: $ETH 2373 is up 2.63%, $SOL 102.98 is up 3.15%, and BNB is at 750.65, up 1.93%. It’s not just Bitcoin holding things up. The Fear and Greed Index is at 51, and the plaza widget is at 46—both neutral. Nobody’s getting carried away, and nobody’s panicking.
The rate decision at 2 a.m. tonight, followed by the speech at 2:30 a.m., is just around the corner. With 81300 broken at this crucial moment, is this an early head start or a bull trap? The closing price will tell. I’m leaving my position unchanged for now and will take another look once this 4-hour candle closes.
$BTC
