BTC 1H volume surged to 3x, breaking below 79,905 and the daily MA20 at 80,188.
The push to 80,000 was driven by short covering. Open interest rose just 0.3%, with no new longs stepping in.
Conservative: Short if a rebound fails to break 80,000; stop at 80,350
Aggressive: Light short below 79,600; stop at 80,000
Invalidation: If the 1H candle closes back above 80,188, exit shorts
$BTC #Bitcoin
The push to 80,000 was driven by short covering. Open interest rose just 0.3%, with no new longs stepping in.
Conservative: Short if a rebound fails to break 80,000; stop at 80,350
Aggressive: Light short below 79,600; stop at 80,000
Invalidation: If the 1H candle closes back above 80,188, exit shorts
$BTC #Bitcoin