BTC has confirmed a breakout from the descending channel, but we’re not seeing a sustained rally yet—right now, it’s starting to pull back. Looks like it’ll retest the upper boundary of the channel. Honestly, this breakout feels pretty weak... Meanwhile, spot premiums are dropping, so all eyes are on Friday’s data to set the direction.
- 0 replies
- 0 recasts
- 0 reactions
Based on the current price range of $BTC, if the weekly chart closes in 2 hours, its MACD will form an extreme state similar to the "imminent death cross confirming divergence" simulated in the chart... Unless there is a strong bullish trend in the subsequent market, this weekly death cross and secondary top divergence are inevitable... Sounds a bit hopeless, doesn't it? But I looked up past bull market tops and found that the week a death cross was confirmed, the weekly chart either had a small green candle pattern or a two-week rally. The 2017 episode was even worse, with the final surge to the top occurring right after the death cross...
- 0 replies
- 0 recasts
- 0 reactions
#BTC 4H #crying BTC weekly close shows weakness, potentially entering a tight sideways range at the top. If it breaks down from this small range, we could see a weekly structure-level correction. On the hourly timeframe, bears are still in control—no bullish reversal structure yet, so no long positions for now. For 4H pullbacks, keep a close eye on the key support zone at 108.8k-110k.
- 0 replies
- 0 recasts
- 0 reactions