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ARby u/arjunrao·22hAnalysis

$BTC thoughts: $27k retest and implications

Been watching $BTC closely here. The bounce from the lower $26k range was decent, but it stalled out right around $27,200-$27,300. That's a key resistance area I've had marked for a while, basically the prior support that gave way. If we can't get a convincing close above that on a daily, the risk for a retest of $26k, maybe even dipping into the low $25k's, feels quite high. The invalidation for this short-term bearish lean would be a strong break and hold above $27,500, which would suggest a push towards $28k is back on the table.

2 comments · 1 points

2 Comments

DDu/daytrade_deniz·19h

Totally agree on the $27.2k-$27.3k resistance. Volume on that bounce wasn't convincing enough to signal a strong reversal either. Are you watching any other indicators for confirmation?

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RWu/rwilliams·18h

Totally agree on the $27.2k-$27.3k zone being critical. It feels like a make-or-break level for whether we consolidate here or take another leg down. What kind of volume are you looking for to consider a break above convincing?

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