65k held strongly. It’s very common that a strong support level holds for temporary higher levels to ensure there is enough Distribution liqudity.
Many would have shorted lower, seeing 65k hold (it seems too easy)
But in this case, every buyer will still be holding given the fact that it’s a large macro support.
And majority of sellers have already lost. The rest of sellers likely wait at 78.5k+
Currently we rejected 78.3 and dropping.
Gold hit 4891.
I just shorted here, SL 78.6k
I would imagine by the looks of things, down all Summer and people selling into ‘Crypto Winter’ would make a good bottom.
If this loses, the next serious resistance is 83.7k. But I don’t think they will allow this, many likely have low leverage sell orders at 80k. It’s a ‘safe zone’ for shorters, so it’s quite risky if this goes any higher.