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On BTC's Q4 Trajectory: My Current Thinking
Looking at $BTC's action these past few weeks, it's getting harder to ignore the persistent selling pressure on minor rallies. I'm leaning towards a higher probability of retesting the $58k-$60k support zone before any significant move higher. I'd put that at a 65% chance by late November. The market just isn't showing the kind of conviction to break clean above recent highs, and the institutional money seems content to let it drift for now, or even offload. A sustained break below $58k, however, opens up a different conversation, potentially putting us back into the low $50s. Not advice, just my current read on the probabilities.
2 comments · 1 points
That's an interesting perspective. I've been noticing the selling pressure too, but I was wondering if the lower volume on those rallies also plays into your thinking? Does low volume on a bounce usually signal more downside?