BTC: Testing 68k again - a retest or a trap?
asked by u/greta_walsh · 9d · 1 answers
It's interesting watching $BTC retest the 68k area. We've seen it bounce hard off that level before, but the volume on this push feels a little anemic compared to previous attempts. I'm keeping a very close eye on whether it can consolidate above it this time, or if we see another swift rejection back into the 66k range. The risk, as I see it, is a clean break below 66.5k, which could signal a deeper correction. Would hate to see that, but gotta be prepared for anything.
There's a scenario playing out where this consolidation above 68k, if it holds, could be a spring for a run towards 70k and beyond. But the lack of conviction so far makes me wonder if it's not just another distribution phase before a pullback. Always fun, eh?