In a downtrend, we often see
$BTC
price move above strong resistance areas to trap long entries, then pull back down and drain their liquidity. 🔴 And the exact opposite happens in an uptrend: Bitcoin sometimes breaks important support areas to trap short sellers, then bounces and continues rising.
🟢 Right now, the most important support area for us is $75,000, and I wouldn’t be surprised at all if we saw it briefly broken with a strong candlestick wick, causing panic selling and position liquidations, after which we’d see a market reaction. Be careful of breakouts and false breakdowns; not every support break means continued decline, and not every resistance breakout means the start of an uptrend. 👀🔥
$BTC
price move above strong resistance areas to trap long entries, then pull back down and drain their liquidity. 🔴 And the exact opposite happens in an uptrend: Bitcoin sometimes breaks important support areas to trap short sellers, then bounces and continues rising.
🟢 Right now, the most important support area for us is $75,000, and I wouldn’t be surprised at all if we saw it briefly broken with a strong candlestick wick, causing panic selling and position liquidations, after which we’d see a market reaction. Be careful of breakouts and false breakdowns; not every support break means continued decline, and not every resistance breakout means the start of an uptrend. 👀🔥
