I spent two hours livestreaming tonight, focused on one question: Is the accumulation pressure around 94,500 BTC showing real demand, or is it just price support to maintain market cap?
At the start of the stream, my view was short-term bearish and medium-term neutral. BTC had pulled back for three straight days from 96,000, but trading volume didn’t spike on the way down, suggesting that major players had no real intention of selling. A pullback on declining volume is actually a classic shakeout of weak hands. So I didn’t open a short—I waited.
I drew two lines on the chart. One is the daily support at 94,200, the lower edge of a channel that’s been tested several times since August. It’s holding. The other is the bears’ defense line at 95,800. As long as the price stays below it, any rebound is a place to sell, not an opportunity. The space between these two lines is the big players’ “kitchen” tonight—they’re cooking in there while we wait outside for dinner.
So what happened? BTC traded sideways in a narrow 94,400–95,500 range the whole time, with no clear direction—exactly as expected. I didn’t make any aggressive moves and preserved my ammunition. I didn’t make money, but I didn’t lose any either. In this kind of market, that’s a win.
Tomorrow, keep an eye on two key levels: to the upside, 96,200, where the recent descending trendline is acting as resistance. Whether price can break through decisively will determine the direction of the next trend. To the downside, 93,800, where daily horizontal support converges with the previous low. If that breaks, we could see 92,000 in the short term. I’ll post an update in the comments before tomorrow’s close.
Will BTC close green or red tomorrow? Vote in the comments—I want to see what everyone thinks.
Follow me for livestreams and SMC lessons every night at 21:00
🌿 Zhao by surname, no announcements | Not financial advice
At the start of the stream, my view was short-term bearish and medium-term neutral. BTC had pulled back for three straight days from 96,000, but trading volume didn’t spike on the way down, suggesting that major players had no real intention of selling. A pullback on declining volume is actually a classic shakeout of weak hands. So I didn’t open a short—I waited.
I drew two lines on the chart. One is the daily support at 94,200, the lower edge of a channel that’s been tested several times since August. It’s holding. The other is the bears’ defense line at 95,800. As long as the price stays below it, any rebound is a place to sell, not an opportunity. The space between these two lines is the big players’ “kitchen” tonight—they’re cooking in there while we wait outside for dinner.
So what happened? BTC traded sideways in a narrow 94,400–95,500 range the whole time, with no clear direction—exactly as expected. I didn’t make any aggressive moves and preserved my ammunition. I didn’t make money, but I didn’t lose any either. In this kind of market, that’s a win.
Tomorrow, keep an eye on two key levels: to the upside, 96,200, where the recent descending trendline is acting as resistance. Whether price can break through decisively will determine the direction of the next trend. To the downside, 93,800, where daily horizontal support converges with the previous low. If that breaks, we could see 92,000 in the short term. I’ll post an update in the comments before tomorrow’s close.
Will BTC close green or red tomorrow? Vote in the comments—I want to see what everyone thinks.
Follow me for livestreams and SMC lessons every night at 21:00
🌿 Zhao by surname, no announcements | Not financial advice