Short-Term Recovery Continues
Bitcoin continues its short-term recovery after dropping below $75,000, with price now pushing back towards its recent lower highs.
Medium-Term Structure Still Down
The bigger picture hasn't really changed for me. Bitcoin continues to produce a series of lower highs and lower lows from the $82,300 peak.
0.618 Fib Comes Into Play
Price is now approaching the 0.618 Fib around $77,830. This could provide the first real test of the strength behind the latest move higher.
Volume Fading on the Rise
Volume has been decreasing as Bitcoin moves higher, which is something to watch. If buyers are serious about extending this recovery, I would like to see buying volume begin to pick up.
Moving Averages Remain Unconvincing
The 100/50-period EMAs have recently crossed bullishly, but both averages have flattened and are contracting again. This reflects the uncertainty still surrounding the medium-term trend.
Bulls Still Have Two Big Tests
A break above $80,000 would give Bitcoin a bullish change of character and improve the medium-term structure. For me, however, the bigger structural test remains the significant $82,300 high.
In Summary
Bitcoin continues to recover from below $75,000, but the broader 4-hour structure remains a series of lower highs and lower lows. Price is approaching the 0.618 Fib around $77,830 while volume fades on the rise, so buyers still have something to prove. A break above $80,000 would give Bitcoin a bullish change of character, but the more significant structural test remains the $82,300 high.
Bitcoin continues its short-term recovery after dropping below $75,000, with price now pushing back towards its recent lower highs.
Medium-Term Structure Still Down
The bigger picture hasn't really changed for me. Bitcoin continues to produce a series of lower highs and lower lows from the $82,300 peak.
0.618 Fib Comes Into Play
Price is now approaching the 0.618 Fib around $77,830. This could provide the first real test of the strength behind the latest move higher.
Volume Fading on the Rise
Volume has been decreasing as Bitcoin moves higher, which is something to watch. If buyers are serious about extending this recovery, I would like to see buying volume begin to pick up.
Moving Averages Remain Unconvincing
The 100/50-period EMAs have recently crossed bullishly, but both averages have flattened and are contracting again. This reflects the uncertainty still surrounding the medium-term trend.
Bulls Still Have Two Big Tests
A break above $80,000 would give Bitcoin a bullish change of character and improve the medium-term structure. For me, however, the bigger structural test remains the significant $82,300 high.
In Summary
Bitcoin continues to recover from below $75,000, but the broader 4-hour structure remains a series of lower highs and lower lows. Price is approaching the 0.618 Fib around $77,830 while volume fades on the rise, so buyers still have something to prove. A break above $80,000 would give Bitcoin a bullish change of character, but the more significant structural test remains the $82,300 high.
I analyse markets by observing levels, patterns, and structure. I share my process and reasoning for educational purposes, helping readers understand market behaviour without giving advice or predictions.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
I analyse markets by observing levels, patterns, and structure. I share my process and reasoning for educational purposes, helping readers understand market behaviour without giving advice or predictions.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.