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The gap at 81,000 was filled as expected; has the market topped out now? #btc
First of all, I’ve always only looked at 80,000-81,000 because 80,600 is a weekly level of resistance, and there’s a gap at 81,000. Yesterday, after BTC hit the weekly resistance, it dropped 2,000 points. Today, it broke back above, and now the gap at 81,000 has been filled. Plus, today’s daily candle closed above 79,400, so it’s ultimately recovered. Once it recovers, we can’t treat it as a false breakout unless it drops again without recovering, then we can consider the possibility of a false breakout.
Actually, regarding the 81,000 gap, I personally prefer to push a few hundred dollars higher, taking the liquidity above along the way. Whether it will go up to take liquidity depends on the main players’ choices. Anyway, I’ve already set a short position around 80,800, with a stop-loss just above 82,000. My personal maximum target was only around 81,000. Since it reached today, I definitely want to short.
As for whether 81,000 is the final top, it still depends on whether it can drop back to 79,400 again without recovering. If it can do that, then filling the 81,000 gap will mark the top.
Regarding many people talking about 82,000, 84,000, 85,000, 90,000, I can’t see that far. I still stick to my own view; my maximum target is only around 80,000-81,000. For the past half month, that’s as far as I can see. Since the 81,000 gap has been filled, if it still goes higher, it means I was wrong. Now that it’s reached my expected level, I’ll go ahead and short.