$BTC 77999 dollars, after the one that smashed through eighty billion, the total of the five candles completed today is only 2.912 billion.
What is really holding it back is not the round number 78000, but that no one is taking the other side above 78231.
On 10-30, the 4-hour candle from 80809 dumped to 77962 at dawn, taking out 8.1 billion in one go.
The average of the fifteen completed candles is now only a little over 1.6 billion, not even reaching a quarter of that one. The 4-hour average today is 582 million, and in fact only 7.2% has been reached. That is what the volume bar on the chart shows.
Price has climbed back from 76270 to 77999, recovering only 30.4% of the drop in seven days, still 5.07% away from 81953.
Only after holding above 78231 can we talk about 80345; if it breaks below 77715, this round of recovery stops at 30%. Don’t chase it at all; wait until it closes above before saying anything.
Volume is the footsteps, price is the result. A rise without volume won't go far.
Are you turning your $ETH into $BTC , or are both sides still waiting?
Data: https://fapi.binance.com/fapi/v1/klines?symbol=BTCUSDT&interval=4h&limit=42
What is really holding it back is not the round number 78000, but that no one is taking the other side above 78231.
On 10-30, the 4-hour candle from 80809 dumped to 77962 at dawn, taking out 8.1 billion in one go.
The average of the fifteen completed candles is now only a little over 1.6 billion, not even reaching a quarter of that one. The 4-hour average today is 582 million, and in fact only 7.2% has been reached. That is what the volume bar on the chart shows.
Price has climbed back from 76270 to 77999, recovering only 30.4% of the drop in seven days, still 5.07% away from 81953.
Only after holding above 78231 can we talk about 80345; if it breaks below 77715, this round of recovery stops at 30%. Don’t chase it at all; wait until it closes above before saying anything.
Volume is the footsteps, price is the result. A rise without volume won't go far.
Are you turning your $ETH into $BTC , or are both sides still waiting?
Data: https://fapi.binance.com/fapi/v1/klines?symbol=BTCUSDT&interval=4h&limit=42
