#BTCBelow80K
Regarding 🪙 $BTC now
We have broken below the fractal at $76,500, but so far we are not consolidating. The very fact of breaking this fractal indicates that the previous upward wave is corrective, hence, there has not been an impulse yet.
💡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 THIS MOMENT (I emphasize this to draw attention) there is a bullish divergence on the AO oscillator. It can break, but if Bitcoin does not continue to drop with the next bars, this divergence will indicate that the entire daily downward impulse could very well be completed, and consequently, the subsequent upward wave correcting the entire decline will be relevant.
The fact that there are attempts to buy back is good, but it is still too early to draw a final conclusion!
