Bitcoin just broke $80k. Can it sustain the rally?
1 week ago 4 views 1 reply 5
BTC finally pushed through $80k, but I think the next few days are more important than the breakout itself. $80k has been a pretty obvious psychological resistance level, so the big question now is whether it can actually flip into support.
If buyers keep stepping in around $78–80k and we consolidate instead of immediately giving the move back, that would make the rally look a lot healthier. If we lose that area quickly, then this could just be another breakout that got overheated too fast.
Momentum is obviously strong right now, but after such a fast move it wouldn’t be surprising to see some kind of pullback/retest either.
Personally I’m watching whether $80k holds more than I’m watching how high the next candle goes, although it’s good to see .
BTC finally pushed through $80k, but I think the next few days are more important than the breakout itself. $80k has been a pretty obvious psychological resistance level, so the big question now is whether it can actually flip into support.
If buyers keep stepping in around $78–80k and we consolidate instead of immediately giving the move back, that would make the rally look a lot healthier. If we lose that area quickly, then this could just be another breakout that got overheated too fast.
Momentum is obviously strong right now, but after such a fast move it wouldn’t be surprising to see some kind of pullback/retest either.
Personally I’m watching whether $80k holds more than I’m watching how high the next candle goes, although it’s good to see
.
Do you think the rally will continue?