Bitcoin’s been creeping back toward 80K but that whole recovery vibe just didn’t hold up at all. With short-term trendline support already busted and those massive spot orders still showing up strong the price is hitting a serious demand test way below the recent lows. 📉💀
Bitcoin Daily Chart Vibes 😈
On the daily Bitcoin keeps dropping those lower highs after getting rejected hard from the 85.5K to 90.5K supply zone. The latest bounce died around 81.5K to 82K then a super bearish candle dragged it right back toward 80K and the middle of that ascending channel. 🖤
Repeated pokes at this trendline still haven’t sparked any real recovery action. A clean daily close under it plus losing those lows near 79.2K to 79.5K would push things into a deeper correction straight to the 75K to 78K demand zone. That area holds the base from September’s rally and it’s the next big daily support level rn. 🌙
But if it clings to support nearby and reclaims 81.5K to 82K the immediate heat eases up fast. Buyers gotta smash through the 84K to 85K resistance next to break this lower highs streak. Until then every rebound stays wide open for fresh selling pressure tho. 🔪
Bitcoin On The 4-Hour Chart 💉
The 4-hour view shows Bitcoin chilling below its broken ascending trendline. That bounce toward 81.6K to 81.8K got rejected right under it turning the line into fresh overhead resistance and slamming price back to 80K again. 🕸️
The highlighted 78.4K to 79.6K demand zone is the immediate downside target now. Recent tests of its upper edge pulled in some buying but those moves never rebuilt any bullish structure. Holding below 79.6K would drag things to the zone’s bottom around 78.4K and a full breakdown could slide the correction toward 75K to 76.3K next. ⚰️
For buyers a push through 81.8K to 82K plus the broken trendline would mark the first real structural win. After that the 84.2K to 84.9K supply zone stands as a major wall followed by bigger resistance at 86K to 87.2K. 📊
Whale Sentiment Check 🐋
The Bitcoin Spot Average Order Size chart has been flashing those big whale readings all through October’s dip toward 80K to 82K. Those green spots highlight larger average spot trades so the big players are still active while Bitcoin fights to hold rebounds. 💎
This could pile on extra selling if the whales are dumping bags or cutting exposure. Paired with the lower highs and lost trendline support ongoing whale moves would crank up the odds of a deeper slide into nearby demand zones. 😭
Still average order size doesn’t flag if trades are buys or sells so it can’t fully prove distribution alone. Similar whale action showed up around the June to August base before the big rally hit. More weakness with these large orders would point harder to selling pressure while a solid reclaim of 82K might mean demand is soaking up supply way better. 🚀
Just another echo from the void by iconofsin.eth 💖
