BTC has hit around 76,000 this time, and the key point is no longer whether it can surge again, but whether it can hold after a pullback.
The two most critical positions on the chart are the daily resistance around 74,800 and the key weekly level near 72,810. The former determines whether this attack has strength, while the latter determines if the breakout is genuine.
In March, it was also pressed back near critical resistance, subsequently losing even the weekly support, resulting in a drop back to the original range. So, if there is a pullback this time and 72,810 cannot hold, it is highly likely that it will still be range-bound, and it may even wipe out the breakthrough sentiment this time.
However, if the pullback does not break, and the weekly level can hold steady, then this movement will not simply be a spike but the market will start to reprice at a higher level.
To put it simply, what is most valuable here is not chasing green candles, but watching for pullbacks.
#BTC #Crypto #Bitcoin
The two most critical positions on the chart are the daily resistance around 74,800 and the key weekly level near 72,810. The former determines whether this attack has strength, while the latter determines if the breakout is genuine.
In March, it was also pressed back near critical resistance, subsequently losing even the weekly support, resulting in a drop back to the original range. So, if there is a pullback this time and 72,810 cannot hold, it is highly likely that it will still be range-bound, and it may even wipe out the breakthrough sentiment this time.
However, if the pullback does not break, and the weekly level can hold steady, then this movement will not simply be a spike but the market will start to reprice at a higher level.
To put it simply, what is most valuable here is not chasing green candles, but watching for pullbacks.
#BTC #Crypto #Bitcoin