everyone thinks a daily close below the range lows means $btc just confirmed the breakdown, but actually the last time we saw this it was a deviation that got faded.
that close is where people lose money. you panic sell or fomo the short, then the bounce leaves you holding the bag while the patient ones are fine.
last time price slipped under the prior range lows, $btc pumped roughly 6%, reversed the whole dump, and closed the week back under the highs of that range. a daily breakdown without the weekly close was not confirmation.
so i'm waiting on this weekly. if we close back above $83k, there's a decent chance this latest move is the same fakeout and the range is still in play. ngl, chasing the first scary candle has been the expensive habit.
what's your take, you waiting the weekly on $btc or already positioned?
#bitcoin #btc #crypto
that close is where people lose money. you panic sell or fomo the short, then the bounce leaves you holding the bag while the patient ones are fine.
last time price slipped under the prior range lows, $btc pumped roughly 6%, reversed the whole dump, and closed the week back under the highs of that range. a daily breakdown without the weekly close was not confirmation.
so i'm waiting on this weekly. if we close back above $83k, there's a decent chance this latest move is the same fakeout and the range is still in play. ngl, chasing the first scary candle has been the expensive habit.
what's your take, you waiting the weekly on $btc or already positioned?
#bitcoin #btc #crypto