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Just been staring at this BTC chart and there's something interesting brewing here. Let me break down what I'm seeing because it could matter for the next move.
First thing that jumps out is that zone between 87.3K and 93K is basically a ghost town volume-wise. When BTC bounced from 83K up to 94K there weren't many sellers showing up, which means the move felt easy. This is actually important because when someone sells at a price and then watches it keep going up, they get that itch to buy back in. When price finally pulls back to where they sold, it feels like a gift. Psychologically that level becomes a magnet. So these highs often end up acting as support on the way down. That's the pattern worth watching.
Now here's the thing though. If there weren't many sellers on the way up, there probably aren't many buyers ready on the way down either. So if we break below 92K I'm expecting to see something sharper. We could easily see a drop down to 87K or 89K territory. The shorter timeframes are already turning bearish so this isn't just theoretical.
Second point is that resistance zone in the reddish box. Most people think resistance is just wherever price hit a high, but that's backwards. Real resistance is where sellers outnumber buyers. It's the zone where selling suddenly intensified. That's exactly what the chart is showing in that box.
Third thing is the liquidity sweep. BTC just wiped out some liquidation levels and now we're seeing the pullback. The question is whether that recent leg up was a trap to sweep those positions or if it's legit strength. Market will answer that for us. If BTC closes multiple daily candles below 87K then we know the answer.
So here's my take for the weekend. Expecting red candles and probably a pullback toward 89K. If Bitcoin shows some real strength around there we might get another shot at buying. If not then 87K and 85K are waiting. Once I'm ready to pull the trigger I'll share the move. The 105k means we need to see what happens at these lower levels first before we even think about higher targets.