In yesterday’s analysis, I highlighted that while my bias was bullish, the selling pressure around 117.5k couldn’t be ignored. If bulls fail to reclaim that zone, a new leg down was always possible. Right now, what we’re seeing is just a normal rebound inside a short-term bearish structure. Although I didn't want BTC to retest 112k lows & Eth to test 4k as obvious retest I don't really like, I like market front running the buyers and let them chase the move.
But the real question is:
👉 Is this simply downside continuation, or a trap before the next major bullish leg?
Here’s why I’m not fully convinced by the bears:
1. The recent drop from 117k wasn’t impulsive, it was overlapping, choppy, and corrective, more like a stepwise accumulation phase on both BTC and ETH.
2. Price action is contained inside a falling wedge, a structure that historically leans toward upside breaks.
3. Bears had their window yesterday, but the follow-through was weak, showing lack of conviction.
📌 Final Note:
BTC last night sat right in the middle of my interest range (113.5k–112.5k), while ETH under 4200 was effectively a 15%+ discount zone. I didn’t hesitate to add to my positions there.
