Bitcoin surged to 81,196 during the hour starting at 11 p.m. last night, with 317 million U in trading volume. But by noon today, more than a dozen hours later, the price had still not returned to that wick. It kept grinding sideways around 80,000, with hourly trading volume shrinking to around 30 million U.
My view is that the rally ran out of steam during that one-hour burst last night. Now the market is consolidating sideways at a high level, with neither buyers chasing nor sellers dumping. The overnight low was only 79,952. The 80,000 level held all night, and those who bought in earlier still haven't panicked and left.
As long as 80,000 holds, I'll keep holding and wait. Until volume climbs back above 100 million U, I won't chase a breakout above 81,196. That wick last night left a group of people waiting for direction above 80,000.
#比特币 $BTC
My view is that the rally ran out of steam during that one-hour burst last night. Now the market is consolidating sideways at a high level, with neither buyers chasing nor sellers dumping. The overnight low was only 79,952. The 80,000 level held all night, and those who bought in earlier still haven't panicked and left.
As long as 80,000 holds, I'll keep holding and wait. Until volume climbs back above 100 million U, I won't chase a breakout above 81,196. That wick last night left a group of people waiting for direction above 80,000.
#比特币 $BTC
