Bitcoin appears strong currently, but my outlook on it hasn’t changed. Despite the current month’s candle showing consolidation, selling pressure still exceeds buying pressure—a point that, to me, doesn’t yet align with clear upward momentum. Second point: There’s a significant imbalance just above the current price, very close by, that has remained open since May and has yet to be closed. This may be one reason for Bitcoin’s current consolidation, as the market waits to first close that zone. At the same time, a new level has emerged within the current monthly candle at $75,300—a key level I’ll be monitoring closely for price interaction. As for confirming the current momentum, I have one simple, clear condition: A daily close above $83,000. Anything less, and the current consolidation isn’t sufficient for me to change my perspective. I have clear chart-based rules—I don’t trade based on emotions with every rally or pullback.
AbramChartShare

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.