BTC just surged from under 65,000 to over 82,000 in a flash but the bears clawed it back rn 🖤. The setup still feels kinda bullish overall yet a ton of walls sit right ahead.
What Level Owns BTC’s Soul? 🔮
CryptoQuant points to that 365-day moving average chilling at 81,700 as the real decider. BTC touched it early september only for sellers to reject the move hard 🕸️. Historically a clean close above marks the official start of fresh bull vibes and could unlock another huge pump. Missing it tho might drag us into longer crabbing or even a scarier drop.
On the flip side clearing 81,700 won’t finish the fight because 3x metcalfe sits at 83,600 next and it already stopped us in may 🦇. Smash that and 88,700 becomes the trader realized price upper band where big profit taking usually hits.
539K BTC Heavy Wall 🩸
The hottest issue rn is long term holders dumping 539,000 coins between 77,100 and 80,200 this year creating the thickest nearby supply cluster 💀. BTC has to eat all that before another real north run. Downside looks cleaner with the 200 day ma near 70,000 as first support then a fat on chain zone from 62,000 to 65,000 holding 476,000 coins 🌙.
Analysts stay optimistic but only if we smash 81,700 soon then 83,600 and finally 88,700 before the rally blooms into something truly sinister 🕷️.
Just another echo from the void by iconofsin.eth 💖
