$BTC $BTC
We broke below the fractal at $76,500, but we are not yet consolidating. The very fact of breaking this fractal indicates that the previous upward wave is corrective, hence the impulse has not yet occurred.
💡Why is it important to understand this? Read between the lines!
As you remember, $69k is a very negative signal for me regarding Bitcoin, so if it eventually drops there, we will certainly see a buyer's reaction, but
globally this fact will only emphasize the weakness in the market.
Also, AT THE MOMENT (I emphasize this to draw attention) there is a bullish divergence on the AO oscillator. It may break, but if Bitcoin does not continue to decline with the next bars, then this divergence will indicate that the entire daily downward impulse may well be complete; hence, the subsequent upward wave, correcting the entire drop, will be relevant.
The fact that there are attempts to buy is good, but it's still too early to make a final conclusion!