#🔥 $BTC Update - Getting Spicy At $104K 👀
Alright team, had my coffee and been watching these charts all morning. Here's what's actually happening...
Price: $102,530 and we just broke that $104K support I was watching. Not gonna lie, this stings a bit.
This level just broke and now we're looking at that $101.5K zone I mentioned. RSI below 30 and we're officially in oversold territory - but that doesn't mean we can't go lower (learned that the hard way in 2022 😅).
My levels I'm watching:
🔴 $101.5K - next major support, watching closely
🔴 $98K - would be brutal but possible
🟢 $104K - now resistance, need to reclaim this
🟢 $106.8K - would confirm any real bullish momentum
What's bugging me: MACD is still red and volume has been weak during this whole consolidation. Makes me think any breakout might be fake. BUT... ETF flows are still coming in and whales keep accumulating these dips.
Real talk from my trading desk: This setup screams "calm before the storm" to me. Either we bounce hard from $104K or we're heading to $98K faster than most people expect.
Well, the $104K break just happened so now we're in that next phase. I've got buy orders staged around $101K but might wait to see if we get a proper flush first.
What I'm watching for entries: If we see a quick wick down to $100K with immediate recovery, that could be your classic "stop hunt" before the bounce. Those usually happen on low volume Sunday nights or early Monday (sound familiar? 😏).
On the flip side, if we start grinding lower with consistent selling pressure, might be worth waiting for that $98K level where real buyers typically show up.
For the brave souls thinking about shorting this bounce - just remember, crypto loves to squeeze both ways. Maybe scale in rather than going all-in on one direction.
The macro picture is still bullish long-term but short-term? This is a trader's market and you gotta respect the levels.
What's everyone else thinking on this $104K test? Holding or folding? 💬
