💰 What’s behind BTC’s overnight drop?
Bitcoin extended its local pullback during the night—but why?
The answer is on the 4-hour chart.
Last week the coin broke above the key mirror zone at roughly $105,800–$106,800 and even managed a solid close above it. 📈
While price was consolidating over that band, a bearish RSI divergence formed 🐻: higher highs on the price chart, lower highs on the RSI.
That local divergence is now playing out to the downside. The most likely scenario is that the decline finds support right at the mirror zone mentioned above. 💁♂️
Theoretically, we could even touch ~$103,800 from above; that level lines up with the midline of the daily channel. If we get that extra flush, it would be a near-perfect long entry point. ☝️
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