Let's zoom out. Bitcoin deserves a proper macro look.
The sell-off from $95k down to $59k was impulsive and clean. At the lows, an old unmitigated Daily Order Block absorbed the move and stopped the bleeding. That's not luck – that's structure working exactly as it should.
From there, BTC fought back. Choppy, slow, unconvincing – but it fought back. Price is now above Equilibrium and approaching the Golden Pocket around $83k.
Here's what I'm watching above:
▪️ Daily -OB at ~$87k – first major resistance
▪️ Daily -OB at ~$94k – the heavier zone
These two areas will likely have a bearish impact. The current price action is too choppy, too messy for a clean continuation. That tells me a pullback is more probable before any new impulse develops.
One level changes everything: a Daily close above $97k shifts this entire picture to bullish. Until then, I respect the supply above.
BTC is at a crossroads. The next few weeks will be telling.
What are your thoughts? Drop them in the comments ↓
Trade your plan. I share mine.
The sell-off from $95k down to $59k was impulsive and clean. At the lows, an old unmitigated Daily Order Block absorbed the move and stopped the bleeding. That's not luck – that's structure working exactly as it should.
From there, BTC fought back. Choppy, slow, unconvincing – but it fought back. Price is now above Equilibrium and approaching the Golden Pocket around $83k.
Here's what I'm watching above:
▪️ Daily -OB at ~$87k – first major resistance
▪️ Daily -OB at ~$94k – the heavier zone
These two areas will likely have a bearish impact. The current price action is too choppy, too messy for a clean continuation. That tells me a pullback is more probable before any new impulse develops.
One level changes everything: a Daily close above $97k shifts this entire picture to bullish. Until then, I respect the supply above.
BTC is at a crossroads. The next few weeks will be telling.
What are your thoughts? Drop them in the comments ↓
Trade your plan. I share mine.
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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.
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.