$BTC has risen to $80,635 after a recent dip to $75,736, which led many to speculate that a bear market was returning.
The current price shows a 4.15% increase. The chart indicates a few key points:
1. Liquidity Sweep :
The price moved from a 24-hour low of $75,736 to a high of $80,682, creating a $5,000 wick.
This appears to be a classic stop-hunt, with larger investors taking liquidity from below before pushing the price upward.
The volume of 1.29 billion USDT supports the idea of genuine buying activity.
2. Moving Average Reclaim:
The price has moved back above the 60-period moving average at $79,038.36.
Historically, when a similar bounce occurred after a dip and the price closed above this moving average, there was an increase of 8-12% within the following 24 hours.
Buyers entered the market precisely at the trend support level.
3. Data Indicates Recovery:
Today’s movement shows a 3.98% increase, and over the past 90 days, the price has risen by 24.51% despite recent corrections.
This suggests a higher low formation rather than a crash.
During the period of fear when prices were around $76,000-$77,000, I was accumulating $BTC , reinforcing the idea that selling during panic is not advisable.
Looking ahead, $81,500 appears to be the next resistance level.
If $BTC maintains a price above $79,500 for four hours, it could quickly approach $83,000.
With the US midterm volatility concluded, the market seems poised for upward movement.
The recent shakeout has been endured, and it appears the main movements are just beginning.
Have you taken advantage of the dip or sold in response to panic?
It's not a financial advice.
Do your own research ?
#BTC☀ #cryoto #BinanceSquareFamily
The current price shows a 4.15% increase. The chart indicates a few key points:
1. Liquidity Sweep :
The price moved from a 24-hour low of $75,736 to a high of $80,682, creating a $5,000 wick.
This appears to be a classic stop-hunt, with larger investors taking liquidity from below before pushing the price upward.
The volume of 1.29 billion USDT supports the idea of genuine buying activity.
2. Moving Average Reclaim:
The price has moved back above the 60-period moving average at $79,038.36.
Historically, when a similar bounce occurred after a dip and the price closed above this moving average, there was an increase of 8-12% within the following 24 hours.
Buyers entered the market precisely at the trend support level.
3. Data Indicates Recovery:
Today’s movement shows a 3.98% increase, and over the past 90 days, the price has risen by 24.51% despite recent corrections.
This suggests a higher low formation rather than a crash.
During the period of fear when prices were around $76,000-$77,000, I was accumulating $BTC , reinforcing the idea that selling during panic is not advisable.
Looking ahead, $81,500 appears to be the next resistance level.
If $BTC maintains a price above $79,500 for four hours, it could quickly approach $83,000.
With the US midterm volatility concluded, the market seems poised for upward movement.
The recent shakeout has been endured, and it appears the main movements are just beginning.
Have you taken advantage of the dip or sold in response to panic?
It's not a financial advice.
Do your own research ?
#BTC☀ #cryoto #BinanceSquareFamily
