Market Maker’s View: $BTC Morning Session: Fourteen Closes Stuck Between 75,600–76,000 — Watch Which Side Closes Beyond First Today
📊 08:38 snapshot: Current price 75,704.8, 24h high 76,216.8 / low 75,531.0, approximately -0.28% over 24h.
Open interest: 34,452.2 coins, worth approximately $2.608 billion, up about 74.0 coins since the early hours; funding rate 0.0086%/8h, continuing to rise.
Overnight recap: The 02:00 close mentioned earlier gave no clear direction. After dropping back below 76,000 at 18:00, all fourteen 1H closes stayed within the 75,600–76,000 band: the highest was 75,961.2 (18:00), the lowest 75,668.2 (04:00), a range of just $293. The lower edge at 75,600 was probed by another lower wick: at 05:00, the low was 75,531.0, piercing 75,600 by $69; the candle closed at 75,720, back above it by $120. Including the 23:00 test (low 75,571.5, pierced by $28.5, then recovered by $125.1 at the close), the lower edge has been pierced by wicks twice, and both times the close recovered above it. The 07:00 close at 75,829.9 was the highest close since 23:00, but still $170.1 short of 76,000.
If I were the market maker: Fourteen closes are squeezed into a $400 band. Nobody has managed to close back above 76,000, while buyers have stepped in both times the lower wicks tested 75,600. Open interest is up by just 74 coins, and the funding rate has rebounded from 0.0068% to 0.0086%—longs are adding a little patience, not adding positions. Don’t chase the in-progress 08:00 wick today; wait for the close.
In a nutshell: Fourteen closes haven’t reclaimed the upper edge; the lower edge has been tested by wicks twice and recovered both times. Today, only the close counts.
What to watch today: First, see whether the 08:00 close can hold above 75,600 and whether a retest of 76,000 can close back above it; 75,531.0, the 24h low, is the next level.
Invalidation: A 1H close above 76,000 confirms the retest, with 76,216.8 next in view; a 1H close below 75,600 signals continued downward pressure, with 75,531.0 next in view. The in-progress 08:00 candle does not count as a trigger; only the close counts.
For discussion purposes only; not investment advice.
#BinanceSquare #BTC #MarketMakerView
📊 08:38 snapshot: Current price 75,704.8, 24h high 76,216.8 / low 75,531.0, approximately -0.28% over 24h.
Open interest: 34,452.2 coins, worth approximately $2.608 billion, up about 74.0 coins since the early hours; funding rate 0.0086%/8h, continuing to rise.
Overnight recap: The 02:00 close mentioned earlier gave no clear direction. After dropping back below 76,000 at 18:00, all fourteen 1H closes stayed within the 75,600–76,000 band: the highest was 75,961.2 (18:00), the lowest 75,668.2 (04:00), a range of just $293. The lower edge at 75,600 was probed by another lower wick: at 05:00, the low was 75,531.0, piercing 75,600 by $69; the candle closed at 75,720, back above it by $120. Including the 23:00 test (low 75,571.5, pierced by $28.5, then recovered by $125.1 at the close), the lower edge has been pierced by wicks twice, and both times the close recovered above it. The 07:00 close at 75,829.9 was the highest close since 23:00, but still $170.1 short of 76,000.
If I were the market maker: Fourteen closes are squeezed into a $400 band. Nobody has managed to close back above 76,000, while buyers have stepped in both times the lower wicks tested 75,600. Open interest is up by just 74 coins, and the funding rate has rebounded from 0.0068% to 0.0086%—longs are adding a little patience, not adding positions. Don’t chase the in-progress 08:00 wick today; wait for the close.
In a nutshell: Fourteen closes haven’t reclaimed the upper edge; the lower edge has been tested by wicks twice and recovered both times. Today, only the close counts.
What to watch today: First, see whether the 08:00 close can hold above 75,600 and whether a retest of 76,000 can close back above it; 75,531.0, the 24h low, is the next level.
Invalidation: A 1H close above 76,000 confirms the retest, with 76,216.8 next in view; a 1H close below 75,600 signals continued downward pressure, with 75,531.0 next in view. The in-progress 08:00 candle does not count as a trigger; only the close counts.
For discussion purposes only; not investment advice.
#BinanceSquare #BTC #MarketMakerView
