Last week the comments under every $BTC chart started sounding the same, a crowd already positioned for lower prices.
That is a familiar way to lose money. You sell a level because it has been touched a few times, then sit there unsure whether you just dodged a breakdown or handed the move away.
$80k remains support until price proves otherwise. The assumption most people are running with is that support weakens every time it gets tested, and it does not match what this structure has already done. The bottoming range, and the range we broke out of before it, both spent time revisiting the lows, more than once, before price expanded higher. Those retests were not a countdown. They were the range doing what ranges do.
The risk runs both ways. Keep calling for a collapse just because $80k has been visited and you can get run over while the level is still intact. Treat it as permanent and a real loss of it leaves you holding a broken idea with no exit.
Where do you think this goes if $80k gets tagged again?
#Bitcoin #BTC #PriceAction
That is a familiar way to lose money. You sell a level because it has been touched a few times, then sit there unsure whether you just dodged a breakdown or handed the move away.
$80k remains support until price proves otherwise. The assumption most people are running with is that support weakens every time it gets tested, and it does not match what this structure has already done. The bottoming range, and the range we broke out of before it, both spent time revisiting the lows, more than once, before price expanded higher. Those retests were not a countdown. They were the range doing what ranges do.
The risk runs both ways. Keep calling for a collapse just because $80k has been visited and you can get run over while the level is still intact. Treat it as permanent and a real loss of it leaves you holding a broken idea with no exit.
Where do you think this goes if $80k gets tagged again?
#Bitcoin #BTC #PriceAction