$BTC UPDATE:
"A resistance tested many times is more likely to break" — mostly true, but sometimes it just means buyers are building pressure for one more attempt.
$BTC is currently forming an ascending triangle: higher lows each time, while the 66,700–66,900 resistance zone has been retested repeatedly without a break. Like climbing a slope — each rest stop is higher than the last, but the summit is still there, unclaimed.
Two scenarios, no bias either way: if price pulls back, 62,800–63,500 is a zone where mild recovery could show up. If price breaks out above 66,900 with strong volume, it could open the path toward 70,400–73,900.
I don't know when the breakout will happen, and this read is invalidated the moment a daily candle closes below the triangle's most recent low.
Whichever way it goes: write down beforehand the level at which you'd admit this structure read was wrong, don't chase the first candle above resistance, wait for a confirmed close and volume before acting.
Long slope ahead — one step at a time.
See you in the next one.
"A resistance tested many times is more likely to break" — mostly true, but sometimes it just means buyers are building pressure for one more attempt.
$BTC is currently forming an ascending triangle: higher lows each time, while the 66,700–66,900 resistance zone has been retested repeatedly without a break. Like climbing a slope — each rest stop is higher than the last, but the summit is still there, unclaimed.
Two scenarios, no bias either way: if price pulls back, 62,800–63,500 is a zone where mild recovery could show up. If price breaks out above 66,900 with strong volume, it could open the path toward 70,400–73,900.
I don't know when the breakout will happen, and this read is invalidated the moment a daily candle closes below the triangle's most recent low.
Whichever way it goes: write down beforehand the level at which you'd admit this structure read was wrong, don't chase the first candle above resistance, wait for a confirmed close and volume before acting.
Long slope ahead — one step at a time.
See you in the next one.