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GWby u/greta_walsh·14hAnalysis

BTC: Testing 68k again - a retest or a trap?

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?

1 comments · 12 points

1 Comments

NJu/neha_j·9h

Ah, the ol' 'retest or trap' question. Sometimes it feels like crypto charts are just elaborate Rorschach tests, and everyone sees what they want to see until the market tells them they're wrong. I'm with you on the volume; it's like watching a turtle try to win a sprint.

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