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$BTC One hour of frantic pinning and harvesting—who is Bitcoin really shaking out with this move?
Bitcoin has recently been trading in a back-and-forth range; bulls and bears repeatedly pull at each other, and stop-losses get swept frequently. Multiple lower wicks within the hour, fake dips and real rallies—this is a classic shakeout in an uptrend. Going against the trend makes it very easy to get harvested.
Yesterday, driven by news and the need for a retracement, price dipped briefly, but it never broke the key support at 78,530. It then reclaimed and held above 79,470, confirming it was effective. The market continues to strengthen and refresh highs, showing that it has not turned bearish—this drop is just a shakeout.
Currently, watch the pressure level at 80,800. A breakout would target 81,800; if it cannot break through, it will keep consolidating in the 79,800-80,700 range. Pay attention to the rise on shrinking volume—near term, it is more likely to first surge to clear the 81,100-81,900 area of short-side liquidity, then pull back.
As long as the overall structure has not been broken, it is still in a bullish phase. Only when the pattern breaks down will things weaken. For Ethereum, watch the 2,330 support and the 2,380 breakout; staying above the trend line still keeps it relatively strong.
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