Price accepted back into the previous range. Liquidity below was taken on extreme fear and macro uncertainty.
The latter could just as easily make this roll back over but the thing is, we don't know.
I'd rather let the chart speak instead of making all kind of (primarily) bad assumptions of what could happen. For every bearish thesis there's a bullish one.
That's why you generally don't want to fade breakouts from such tight compression ranges as they usually continue on for a while. Many shorts aped in around the 87-88K region and got ran over today.
🚨 #BTC alert! Low weekend volume hides a sharp 5-min chart drop, sparked by the Jupiter-Uranus square. Brace for big moves when markets open Monday!📉✨ #Crypto #Investing #FinancialAstrology
Bitcoin is the digital gold that will be used to back up stablecoins (CBDC), its fully planned and just a matter of time. I will repeat my words again, I see a BTC target of at least $500,000 till 2030
$BTC It's getting pretty dense with positions building up on both sides here.
Bitcoin has traded within a ~4% range for the past 4 days. Which comes after a very volatile previous few weeks.
So you can understand that plenty of longs & shorts have been building up on both sides here. This will likely result in a larger move as one side eventually gets squeezed out.
So keep your eyes out for a clean break below ~$83K or above ~$86K as that could very well be the start of the next bigger move.