Weekly POI did its job. Clean bounce straight into the 81k resistance zone. If you longed the lows, this is where taking profits makes sense. Chasing longs up here after a 1k+ move is risky unless 81k gets reclaimed cleanly. For now: POI held = bullish sign 81k still key resistance Rejection there could bring shorts back into play Good reaction. Now we watch if bulls can actually sustain it above bias level. #writetoearn #Write2Earn $BTC
80.5k bias level rejected again almost to the tick.
As long as BTC trades below that level, local short bias remains active and downside risk stays on the table.
But bulls still have one thing going for them: the weekly POI held beautifully.
That means the aggressive higher timeframe uptrend is still alive for now. If this weekly support continues holding, an eventual reclaim of 81k could open the door for another push toward 83k+ later on.
Current key levels: • 80.5k = bias level • 81k reclaim = momentum shift • 83k = breakout continuation • 78k / CME zone = magnet below • 75k still possible if weakness expands
Personally: • still holding some shorts • trimming hedges into profit • not adding fresh longs here • keeping remaining downside exposure for possible CME close / 75k move
Order flow currently looks more neutral than bullish.
When the price reaches below the cost to produce 1 bitcoin, that's when spot buying pressure reaches a natural maximum.
It's one of 7 reasons I shared why 60k is the bottom and we won't go lower. In live time on Feb 6th, and the months after that without changing my view.
For future reference, I expect this to continue to work, of course, always with a critical view.
But every time so far, it has passed that critical lens, convincing us of the bottom.
Weekend highs taken. Breakout attempt in play. Bias: bullish, but watching for failure. > 79k → continuation, look for longs on dips <79k → back into range, short possible Magnets below: CME close and ~75k No chasing. Wait for confirmation. #writetoearn #TrumpUnveilsPlanToEscortHormuzShips TrumpThreatensRenewedStrikesIfIran'Misbehaves'DuringCeasefire$BTC