$BTC Reclaimed, but not confirmed
Bitcoin bounced from a panic low just under $76K (Nov 4) to ~$80.4K. Fast recovery, but price is now back inside the zone it was chopping in before the Oct 29 breakdown.
Key levels on the 4h chart:
~$82K: sellers defended here on Oct 29
~$80K: reclaimed zone, needs to hold on a retest
~$78K: where price built a base after the breakdown
Three scenarios I’m watching:
Retest holds and higher lows form, structure improves
Retest fails, price drifts back toward the $77K to $78K shelf
Push toward $82K, which needs acceptance, not just a wick 🔍
A sharp rebound after a flush often means shorts were crowded. It doesn’t prove buyers are in control yet. Let the retest decide before adding size.
Verify first. Risk later. Scale slowly.
#BTC #Bitcoin
Bitcoin bounced from a panic low just under $76K (Nov 4) to ~$80.4K. Fast recovery, but price is now back inside the zone it was chopping in before the Oct 29 breakdown.
Key levels on the 4h chart:
~$82K: sellers defended here on Oct 29
~$80K: reclaimed zone, needs to hold on a retest
~$78K: where price built a base after the breakdown
Three scenarios I’m watching:
Retest holds and higher lows form, structure improves
Retest fails, price drifts back toward the $77K to $78K shelf
Push toward $82K, which needs acceptance, not just a wick 🔍
A sharp rebound after a flush often means shorts were crowded. It doesn’t prove buyers are in control yet. Let the retest decide before adding size.
Verify first. Risk later. Scale slowly.
#BTC #Bitcoin
