Bitcoin tests the decisive zone: will we bounce upward or plunge deeper?
In your opinion, will this bottom hold and will we see a strong bounce, or are we heading deeper?
For everyone asking where the market is headed after the latest drop and the test of the $73,333 bottom... let's sum up the picture with the numbers and the facts:
First line of defense: The price fell sharply and broke below the short-term moving averages, but then bounced back above $74,200, attempting to stabilize.
Liquidity and volume: The huge trading volumes seen during the drop point to liquidations of long positions. The current situation calls for extreme caution and avoiding hasty, random entries.
Key support zone: $73,333–$73,000 (holding above it is essential to prevent a deeper decline).
Nearby resistance zone: Moving back above $75,000 and holding there is the basic requirement for sentiment to turn positive and for an attempt to regain upward momentum to begin.
The market is currently in a “testing the waters” phase. Holding above current support levels is essential for sentiment to turn positive, and breaking through nearby resistance will determine the direction ahead.#bitcoin #BinanceSquareTalks #TradFiForBeginners #Bitcoin❗ $BTC #bnb一輩子
In your opinion, will this bottom hold and will we see a strong bounce, or are we heading deeper?
For everyone asking where the market is headed after the latest drop and the test of the $73,333 bottom... let's sum up the picture with the numbers and the facts:
First line of defense: The price fell sharply and broke below the short-term moving averages, but then bounced back above $74,200, attempting to stabilize.
Liquidity and volume: The huge trading volumes seen during the drop point to liquidations of long positions. The current situation calls for extreme caution and avoiding hasty, random entries.
Key support zone: $73,333–$73,000 (holding above it is essential to prevent a deeper decline).
Nearby resistance zone: Moving back above $75,000 and holding there is the basic requirement for sentiment to turn positive and for an attempt to regain upward momentum to begin.
The market is currently in a “testing the waters” phase. Holding above current support levels is essential for sentiment to turn positive, and breaking through nearby resistance will determine the direction ahead.#bitcoin #BinanceSquareTalks #TradFiForBeginners #Bitcoin❗ $BTC #bnb一輩子
