#BTC Gameplan
The market just played a classic trick at the highs. Here is exactly what is happening on the chart without the complicated jargon:
📉 The Trap: We saw a big spike up past $73565 BSL, but it was a fake-out. The big players trapped the late buyers who thought we were breaking out, and then immediately pushed the price down. The short-term momentum is now pointing downwards.
🧱 The Ceiling (Resistance): If we get a small bounce upwards, keep a close eye on the $71,500 - $71800 area (the pink box). Sellers are heavily defending this zone, making it a very risky place to enter new longs.
🛑 First Bumps in the Road (Weak Support): The price will test the $69,000 - $69,800 zone. We might see a small, choppy bounce here, but this support is fragile after that big drop. Do not bet the house on this level holding.
🎯 The Main Magnet (Major Target): The ultimate level the market wants to test is down near $68200 i.e the top of Daily OB+. But the "fair price" is 66903 where the market balances out. This is where we will be hunting for much safer, high-reward buying opportunities.
The Takeaway: Avoid trying to catch a falling knife right now. Patience pays off. Let the price come to us at our main $66,900 target before looking for the next big move!
@cryptosignals
The market just played a classic trick at the highs. Here is exactly what is happening on the chart without the complicated jargon:
📉 The Trap: We saw a big spike up past $73565 BSL, but it was a fake-out. The big players trapped the late buyers who thought we were breaking out, and then immediately pushed the price down. The short-term momentum is now pointing downwards.
🧱 The Ceiling (Resistance): If we get a small bounce upwards, keep a close eye on the $71,500 - $71800 area (the pink box). Sellers are heavily defending this zone, making it a very risky place to enter new longs.
🛑 First Bumps in the Road (Weak Support): The price will test the $69,000 - $69,800 zone. We might see a small, choppy bounce here, but this support is fragile after that big drop. Do not bet the house on this level holding.
🎯 The Main Magnet (Major Target): The ultimate level the market wants to test is down near $68200 i.e the top of Daily OB+. But the "fair price" is 66903 where the market balances out. This is where we will be hunting for much safer, high-reward buying opportunities.
The Takeaway: Avoid trying to catch a falling knife right now. Patience pays off. Let the price come to us at our main $66,900 target before looking for the next big move!
@cryptosignals
No reviews yet.