Our bearish scenario played out as expected. Price was

Post

--Bullish

Our bearish scenario played out as expected. Price was rejected near the R-OB around $81,200, and sellers pushed it down through the OB zone near $78,500 and the $76,361 support.

Now $BTC is eating the liquidity below support. Price swept into the liquidity zone and tapped $75,208, where many long stop losses likely sit. It now trades at $75,898, about 6.5% below the R-OB rejection.

After a liquidity grab, the market often reacts. A bounce back toward $76,361 is possible, and that broken support can now act as resistance. If sellers stay in control, a close below the bottom of the zone near $74,900 opens deeper downside.

#BTC #BTCUSDT.

SnEmroz

Our last BTC call played out and price is now testing support.

Earlier $BTC was at 80667 and up 3.9% after breaking the falling trendline and bouncing from 76361. We said the Double Bottom neckline at 78400 to 78700 had broken and price was running into the R-OB zone at 81150 to 82000. We also said a rejection from R-OB could bring a retest of 78400 to 78700 and that losing it can send price back to 76361.

That is exactly what happened. Sellers rejected price at R-OB and the retest zone failed to hold. BTC dropped about 5% from our last update and is now at 76664 and down 5.09% today.

The 24h range is 76171 to 80962. Price is sitting right on the 76361 support and the 24h low shows it already dipped just under that level.

The Double Bottom idea has failed for now. 78400 to 78700 is no longer support. It is now resistance.

If a 1H candle closes below 76361 price can drop toward 75736 where the last sweep happened.

If support holds a bounce can retest 78400 to 78700 from below. A strong close above 78700 brings the bullish structure back and 80000 comes into play.

For now BTC stays weak below 78400. Support has not broken on a close yet. The next 1H closes around 76361 will decide the move.

BTC-0.16%