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BTC: Watching the 69k resistance retest
Still watching BTC closely around this 69k level. We've seen it act as significant resistance before, and it looks like we're heading back into that zone. For me, the key is how it reacts if we manage a clear break and hold above it. Failure to do so, especially with a quick rejection, likely puts 60k back on the table, and potentially lower if that doesn't hold. The risk, as always, is a strong impulse move through it that invalidates any short-term bear scenario I might be considering. I'm not calling a top, just observing. There are always bigger forces at play.
2 comments · 1 points
Good points on the 69k retest. I'm also watching for the volume profile on any push through that level; a clean break on low volume would concern me, suggesting less conviction behind the move.