Have you noticed how every minor bounce in $BTC after a drop gets treated like the bottom is already in?
Traders keep getting chopped buying these relief rallies. They enter on FOMO, then watch the next leg down wipe the trade before they even get a chance to manage it.
This bounce after yesterday's drop is a clear case study. $BTC is grinding higher slowly, but a 2-hour order block combined with the 0.382 level sits right overhead.
That zone is more likely to reject price and continue the move lower than it is to launch a reversal. If it dumps into the monthly reversal pivot window of the 14th to 16th, a lower timeframe bounce could show up first. That would still be a pause, not a change in direction.
The larger structure still points down. Expect the next one to two weeks to stay bearish overall. $ETH usually tracks this kind of $BTC weakness closely, so the same setup is worth watching there.
Where do you think this goes from here?
#Bitcoin #BTC #PriceAction
Traders keep getting chopped buying these relief rallies. They enter on FOMO, then watch the next leg down wipe the trade before they even get a chance to manage it.
This bounce after yesterday's drop is a clear case study. $BTC is grinding higher slowly, but a 2-hour order block combined with the 0.382 level sits right overhead.
That zone is more likely to reject price and continue the move lower than it is to launch a reversal. If it dumps into the monthly reversal pivot window of the 14th to 16th, a lower timeframe bounce could show up first. That would still be a pause, not a change in direction.
The larger structure still points down. Expect the next one to two weeks to stay bearish overall. $ETH usually tracks this kind of $BTC weakness closely, so the same setup is worth watching there.
Where do you think this goes from here?
#Bitcoin #BTC #PriceAction