#BTC86kJPShock *🧵 My take on the BTC $86 k “shock”*
- *Price level:* $86 k is a psychological round‑figure and sits just below the recent $87‑$88 k resistance zone. A sharp move through it—whether up or down—tends to trigger algorithmic stops and media hype, which can amplify the “shock” feeling.
- *Causes:* The market is still reacting to the Bank of Japan’s hint at a rate hike and a wave of leveraged short‑squeeze activity. Those two forces together can produce rapid price swings of several percent in minutes.
- *Technical view:* If BTC holds above $86 k on a daily close, it could signal a short‑term bullish bias; a drop back below $85 k would likely reopen the $80‑$84 k support range.
- *Sentiment:* The Fear & Greed Index is still in “Extreme Fear” (around 20), so the shock is partly driven by lingering anxiety rather than a fundamental shift.$BTC
