Definitely an interesting spot for $BTC.--CryptoZeno

Definitely an interesting spot for $BTC.

We’re testing 2 diagonals, something that’s been quite consistent during BTC’s range bound periods over the past few years.

We’re also testing a HTF trendline from the lows while filling part of the imbalance left on the move up.

During periods like this, when price revisits a bit of that imbalance, whales start building large positions. Illiquid conditions can be ideal for scaling into 1000s of BTC while the market isn’t saturated. Low volume gives them an opportunity to rebalance.

Given the context, it makes sense to expect a move back up. 76K is the first barrier, around Monday’s high. Flip that, and we push to 80s again.

After 50 days of slow bleed, the market is at a decision point. We’ll have to wait and see what it gives us.