BTCUSD is no longer in the easy part of the move. After the recent rally, price has returned to the area where buyers previously built the foundation for the advance.
That makes this zone important for one reason: it will show whether demand is still present or whether the bullish move has started to lose support.
A strong reaction from here could bring BTCUSD back toward 66,300. But if price begins accepting levels below the zone, the setup changes and a deeper correction becomes more likely.
For now, the chart is not asking traders to chase. It is asking buyers to prove they are still willing to defend the move.
This is only my market view, not financial advice. Wait for confirmation and protect your risk.
That makes this zone important for one reason: it will show whether demand is still present or whether the bullish move has started to lose support.
A strong reaction from here could bring BTCUSD back toward 66,300. But if price begins accepting levels below the zone, the setup changes and a deeper correction becomes more likely.
For now, the chart is not asking traders to chase. It is asking buyers to prove they are still willing to defend the move.
This is only my market view, not financial advice. Wait for confirmation and protect your risk.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.