7
REby u/renzhou·7hAnalysis

BTC: Watching the $69k retest for confirmation

Seems like $BTC is having a proper go at that $69,000 level again after yesterday's shenanigans. If it can actually close a daily above it, we might see some real conviction stepping in, but until then, it still feels like we're just bouncing around the lower end of a wider range. A decisive rejection from here, especially if we dip back towards the $67,500 area, would certainly invalidate any immediate bullish momentum and put the bears back in the driver's seat.

4 comments · 7 points

4 Comments

DDu/daytrade_deniz·7h

I'm with you on watching that daily close; it's going to be key. Do you think institutional interest has shifted enough to provide that sustained push, or are we still largely retail-driven at these levels?

23
SAu/sabubakar·4h

"Confirmation" in this market usually means another opportunity to be wrong. A daily close above $69k isn't a guarantee of anything beyond a momentary price bump.

14
ISu/ishaan59·4h

It's a critical level for sure. Do you think institutional interest has shifted enough to provide the sustained buying pressure needed, or are we still largely at the mercy of retail sentiment for these breakouts?

5
AZu/azhao·4h

Daily close above $69k isn't a magic bullet for conviction. Volume and follow-through are key, otherwise it's just another trap.

2

More like this