$BTC just had its quietest 24 hours of the week: a $783 range, start to finish.
For context, Thursday's candle swung $5,471 when price fell from 81,971 to the 76,500 area. Since then it's been nothing but small candles between 77,114 and 77,897.
What the data says:
• Price 77,742, +0.37% on the day
• 7-day change: -3.9%
• 24h spot volume ~$454M vs a ~$1.16B daily average this week, so roughly 61% lighter
• Still below the 7-day average of ~79,540
My read: this looks more like a pause after the drop than a reversal. Bulls want to see a close above 77,900 and then a reclaim of 79,500. Bears are watching the 7-day low at 76,326; losing it on real volume would open the door to a fresh leg down.
Ranges this tight on thin weekend volume rarely last. When the expansion comes, which side do you think breaks first?
Not financial advice.
#Bitcoin #BTCAnalysis #CryptoMarket
For context, Thursday's candle swung $5,471 when price fell from 81,971 to the 76,500 area. Since then it's been nothing but small candles between 77,114 and 77,897.
What the data says:
• Price 77,742, +0.37% on the day
• 7-day change: -3.9%
• 24h spot volume ~$454M vs a ~$1.16B daily average this week, so roughly 61% lighter
• Still below the 7-day average of ~79,540
My read: this looks more like a pause after the drop than a reversal. Bulls want to see a close above 77,900 and then a reclaim of 79,500. Bears are watching the 7-day low at 76,326; losing it on real volume would open the door to a fresh leg down.
Ranges this tight on thin weekend volume rarely last. When the expansion comes, which side do you think breaks first?
Not financial advice.
#Bitcoin #BTCAnalysis #CryptoMarket
