It’s not called a dip. It’s called a massacre.
$BTC now is at 68881, down 6.24% today. When BTC was at 74025, we told you that 73470 was key support. We said a close below could take the price toward 73000 or lower. Sellers broke through it, and the price never looked back. The wick dipped to 67568. That’s approximately 7% below our last update.
Look at the candles. Huge red bodies and almost no pullback. CHoCH, then BOS, followed by a straight drop. This is not a normal correction.
Support is now the 24-hour low at 67568. A 4H close below could send the price sliding toward 66000 and then 65000. If buyers hold it, a rebound could first reach 70000–71000.
The important resistance is former support at 73506 and, above that, 76361. We also said that any rebound below 76300 is just a bounce. That still holds.
For now, BTC remains bearish below 73506. Don’t try to catch a falling knife. Wait for a 4H candle to close before taking a side.
$BTC #earningsession
$BTC now is at 68881, down 6.24% today. When BTC was at 74025, we told you that 73470 was key support. We said a close below could take the price toward 73000 or lower. Sellers broke through it, and the price never looked back. The wick dipped to 67568. That’s approximately 7% below our last update.
Look at the candles. Huge red bodies and almost no pullback. CHoCH, then BOS, followed by a straight drop. This is not a normal correction.
Support is now the 24-hour low at 67568. A 4H close below could send the price sliding toward 66000 and then 65000. If buyers hold it, a rebound could first reach 70000–71000.
The important resistance is former support at 73506 and, above that, 76361. We also said that any rebound below 76300 is just a bounce. That still holds.
For now, BTC remains bearish below 73506. Don’t try to catch a falling knife. Wait for a 4H candle to close before taking a side.
$BTC #earningsession
