Yesterday I said a 4-hour close under $80,000 breaks the coil. It broke.
$BTC is at $79,912, down 2.4% on $1.02 billion of spot volume, after printing a $79,221 low. Saturday's headlines about US evacuations in the Middle East gave the risk-off mood its weekend headline, and the whole board slid with it — Ether is down 4.4% to $2,307.
My lines: support $79,221, today's low, and resistance $81,844, the 24-hour high. A 4-hour close under $79,221 opens the next leg down; a reclaim of $80,000 is the first sign the sellers are tired.
What keeps me from calling this a bottom: Bitcoin sits under both its 4-hour EMA 21 and EMA 50, and the last completed 4-hour candle closed under $80,000. The coil didn't just break — it stayed broken.
Which side are you standing on — waiting for the $80,000 reclaim, or watching $79,221 for the next leg?
NFA. DYOR.
$BTC #Bitcoin #BitcoinAnalysis #RiskOff
$BTC is at $79,912, down 2.4% on $1.02 billion of spot volume, after printing a $79,221 low. Saturday's headlines about US evacuations in the Middle East gave the risk-off mood its weekend headline, and the whole board slid with it — Ether is down 4.4% to $2,307.
My lines: support $79,221, today's low, and resistance $81,844, the 24-hour high. A 4-hour close under $79,221 opens the next leg down; a reclaim of $80,000 is the first sign the sellers are tired.
What keeps me from calling this a bottom: Bitcoin sits under both its 4-hour EMA 21 and EMA 50, and the last completed 4-hour candle closed under $80,000. The coil didn't just break — it stayed broken.
Which side are you standing on — waiting for the $80,000 reclaim, or watching $79,221 for the next leg?
NFA. DYOR.
$BTC #Bitcoin #BitcoinAnalysis #RiskOff