Guys, HYPE is at 71.2 now. Bitcoin got hammered tonight, but it barely dropped.
The post at 1 p.m. said to wait and see: if 70.7 broke, then 70 wouldn’t hold. After 9 p.m., it really did break, hitting a low of 69.6. The direction was right. But it only dipped a little, then climbed back up after 10:30.
From noon until now, Bitcoin fell from 73.6k to 71.7k, down almost 3%; HYPE went from 72 to 71.2, down just over 1%.
Don’t take that as a sign of strength. Trading volume shrank from over $900 million to just over $800 million. It’s not that buyers are rushing in—there are just fewer sellers too.
My view is still to wait and see. That hasn’t changed. Only a move back above 73.9 would show that buyers are really stepping in. If 69.6 breaks again, there’s no decent support below.
If Bitcoin goes to test 70k, I’ll see whether it can hold up and let you guys know right away. #HYPE $HYPE
The post at 1 p.m. said to wait and see: if 70.7 broke, then 70 wouldn’t hold. After 9 p.m., it really did break, hitting a low of 69.6. The direction was right. But it only dipped a little, then climbed back up after 10:30.
From noon until now, Bitcoin fell from 73.6k to 71.7k, down almost 3%; HYPE went from 72 to 71.2, down just over 1%.
Don’t take that as a sign of strength. Trading volume shrank from over $900 million to just over $800 million. It’s not that buyers are rushing in—there are just fewer sellers too.
My view is still to wait and see. That hasn’t changed. Only a move back above 73.9 would show that buyers are really stepping in. If 69.6 breaks again, there’s no decent support below.
If Bitcoin goes to test 70k, I’ll see whether it can hold up and let you guys know right away. #HYPE $HYPE
