$BTC okay so BTC just bounced off 57,800 and is sitting around 59,4-59,500 now, up like 1.3% on the day. and my first instinct was — oh nice, recovery. but then I pulled up the daily and. yeah. not really.
still under the MA25, still way under the MA99, still almost 12% off that 67,292 high from a couple weeks back. so it's less "recovery" and more... bounce. which, fine, bounces are real too, I'm not saying ignore it.
what's kind of weird is how different the timeframes look right now. 15m and 1h MACD are both green and climbing, actually pretty strong honestly. 4h is starting to turn too. but the daily MACD is still deep negative, like -441 deep. so short term everyone's excited, longer term the chart just... hasn't confirmed anything yet.
I remember seeing this exact pattern back during an earlier leg down too — sharp bounce, momentum flips green on the small timeframes, people call bottom, then it just chops back into the range. not saying that's what happens here. just saying I've seen this movie before.
not really sure if this is the start of something or just a breather before more downside.
Still trying to figure out what this really changes.
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