[BTC DAILY 08/11] Bitcoin ($BTC ) today: Stay on the sidelines and wait for confirmation
Today I’m choosing to sit tight and watch, because the market is caught in a tug-of-war.
1. WHAT’S THE MARKET DOING?
- D1 (daily timeframe): the trend is still up, but the short-term move is going the other way.
- H4 (4-hour timeframe): currently in a downtrend.
- My view: stay on the sidelines. The daily and 4-hour timeframes are pulling in opposite directions, so I’ll wait for price to choose a direction before deciding what to do.
2. WHY AM I BEING CAUTIOUS?
- The most recent H4 high is at 84,875, and price still hasn’t broken above it (still +12.0% away).
- Price has broken below the most recent H4 low at 79,732.
- Momentum is weak: D1 MACD is red, with the bars getting deeper, while ADX at 20 suggests the trend lacks strength.
3. PRICE LEVELS I’M WATCHING
- Support: 74,811 (20-day low).
- Resistance: 79,910 - 80,928 (supply zone, H4 Order Block).
- Potential buy zone: 74,811, but only if there’s a confirming signal.
- Potential sell zone: 79,910 - 80,928, also only if there’s a confirming signal.
4. TWO POSSIBLE SCENARIOS
- Bullish: price needs to hold above 74,811 and break through 80,928 to confirm the uptrend. Next target: 82,595.
- Bearish: if price breaks below 74,811 and fails to reclaim this level, the trend could weaken. Next target: 63,595.
5. WHEN WOULD I BE WRONG?
If an H4 candle closes above 80,928 or below 74,811, that would mean the market has chosen a direction, and the whole picture would need to be reassessed.
RISKS TO KEEP IN MIND
- The average daily range is around 3.0% (D1 ATR), so price could easily sweep through these levels before truly choosing a direction.
- An Order Block is just an area to watch; it won’t always hold. Macroeconomic news can trigger sharp price moves and slippage.
Price at the time of writing: 75,795 USDT (10:02 08/11/2026, UTC+7). The market moves very quickly, so remember to always set a stop loss.
This is my personal view for reference, not investment advice.
#BTC #Bitcoin #MarketUpdate
Today I’m choosing to sit tight and watch, because the market is caught in a tug-of-war.
1. WHAT’S THE MARKET DOING?
- D1 (daily timeframe): the trend is still up, but the short-term move is going the other way.
- H4 (4-hour timeframe): currently in a downtrend.
- My view: stay on the sidelines. The daily and 4-hour timeframes are pulling in opposite directions, so I’ll wait for price to choose a direction before deciding what to do.
2. WHY AM I BEING CAUTIOUS?
- The most recent H4 high is at 84,875, and price still hasn’t broken above it (still +12.0% away).
- Price has broken below the most recent H4 low at 79,732.
- Momentum is weak: D1 MACD is red, with the bars getting deeper, while ADX at 20 suggests the trend lacks strength.
3. PRICE LEVELS I’M WATCHING
- Support: 74,811 (20-day low).
- Resistance: 79,910 - 80,928 (supply zone, H4 Order Block).
- Potential buy zone: 74,811, but only if there’s a confirming signal.
- Potential sell zone: 79,910 - 80,928, also only if there’s a confirming signal.
4. TWO POSSIBLE SCENARIOS
- Bullish: price needs to hold above 74,811 and break through 80,928 to confirm the uptrend. Next target: 82,595.
- Bearish: if price breaks below 74,811 and fails to reclaim this level, the trend could weaken. Next target: 63,595.
5. WHEN WOULD I BE WRONG?
If an H4 candle closes above 80,928 or below 74,811, that would mean the market has chosen a direction, and the whole picture would need to be reassessed.
RISKS TO KEEP IN MIND
- The average daily range is around 3.0% (D1 ATR), so price could easily sweep through these levels before truly choosing a direction.
- An Order Block is just an area to watch; it won’t always hold. Macroeconomic news can trigger sharp price moves and slippage.
Price at the time of writing: 75,795 USDT (10:02 08/11/2026, UTC+7). The market moves very quickly, so remember to always set a stop loss.
This is my personal view for reference, not investment advice.
#BTC #Bitcoin #MarketUpdate
