#BTC /USDT — Bitcoin is sitting at a pretty important spot right now.
Not gonna lie, this chart is getting interesting.
$BTC is trading around $73.6K and still holding the lower support trendline of the descending broadening wedge on the 12H chart.
That's the level I'm watching.
The 100MA is still sitting above price, acting as resistance near the $81K–$82K area. So bulls have some work to do before anyone starts calling this a proper reversal.
Here's my thinking:
If BTC keeps defending this lower trendline, a bounce towards $76K–$78K could be on the table. A stronger recovery would need to reclaim the 100MA and eventually break the upper wedge resistance.
But there's no room for blind optimism here.
Lose the support trendline with a confirmed 12H breakdown, and another leg down becomes a real possibility.
I'm watching the reaction at support rather than chasing every green candle.
What do you think — is $BTC preparing for a relief rally, or is this support about to give way?
#Bitcoin #BTC #CryptoAnalysis #BinanceSquare
Not gonna lie, this chart is getting interesting.
$BTC is trading around $73.6K and still holding the lower support trendline of the descending broadening wedge on the 12H chart.
That's the level I'm watching.
The 100MA is still sitting above price, acting as resistance near the $81K–$82K area. So bulls have some work to do before anyone starts calling this a proper reversal.
Here's my thinking:
If BTC keeps defending this lower trendline, a bounce towards $76K–$78K could be on the table. A stronger recovery would need to reclaim the 100MA and eventually break the upper wedge resistance.
But there's no room for blind optimism here.
Lose the support trendline with a confirmed 12H breakdown, and another leg down becomes a real possibility.
I'm watching the reaction at support rather than chasing every green candle.
What do you think — is $BTC preparing for a relief rally, or is this support about to give way?
#Bitcoin #BTC #CryptoAnalysis #BinanceSquare
