BTC sitting around $77.8K right now, up about 2.7% over the past 24 hours. Here's how I'm reading the setup:
Key Levels I'm Watching:
• Resistance: $79,200 is the big one - that's the Short-Term Holder cost basis. Recent buyers are underwater there, so expect some selling pressure if we approach it. Clean break above that and $80K+ comes into play 📈
• Support: $75K is solid support (aligns with 100-day MA). Below that, $72K-73K zone is the next floor.
What I'm Seeing:
• Trend's been grinding higher in a rising channel ✅
• Volume's been decent on the moves up
• Market sentiment is bullish but not euphoric (Fear & Greed around 46 - neutral territory)
My Play:
Honestly, we're in a decent spot here. If you're looking to add, I'd wait for either:
1. A pullback to $75K support for a better entry
2. A clean break above $79.2K with volume for momentum continuation
If we break $79.2K, targeting $84K short-term. If we reject there, likely back to $75K range.
I'm holding my core BTC position (35% of crypto bag). Not adding here - rather buy the dip or chase the breakout than buy in no-man's land.
NFA - just my read on the chart 💯