1
BTC: Watching the 69k retest closely
Been observing $BTC action pretty closely around this 69k mark. We've seen it act as a significant pivot point multiple times. The current retest, if it holds as resistance, could set us up for another leg down, maybe testing the mid-60s. On the flip side, a clean break above 69k and a solid flip to support would obviously invalidate that bearish lean and likely signal intent to push towards 73-74k. I'm not making a call here, just highlighting what I'm looking for in terms of price action and validation/invalidation. Just my thoughts, could be wrong.
1 comments · 1 points
The 69k level is definitely a magnet. I'm not convinced a single retest and bounce off it as resistance is enough to confirm a downside move; need to see how it performs on subsequent tests. A clean break over 70k would be more convincing for upside.