So here we are again. BTC trading at $70,904 (-1.07%) after yesterday\u2019s spike to ~$73K got aggressively rejected.<\/p>\n
The 4-hour chart tells the whole story\u200a\u2014\u200athat massive green candle pumping from $67K straight to $73K on ceasefire news, immediately followed by distribution and now a clean red candle erasing\u00a0gains.<\/p>\n
Looking at the BTC\/USDT 4H WhiteBIT chart via TradingView, the pattern is obvious\u200a\u2014\u200awe\u2019re still trapped in the same range that\u2019s held for weeks. Every rally attempt gets sold into. The $72K-$73K zone keeps acting as resistance, and now price is drifting back toward the middle of the range. The yellow RSI moving average at 64.15 shows momentum is still technically bullish, but barely. One more red candle and we flip neutral\u00a0again.<\/p>\n
What\u2019s interesting is the volume profile. During the ceasefire pump, buy volume hit 358 BTC per candle\u200a\u2014\u200asignificant but not massive. The distribution since then has been steady, not panicked. This isn\u2019t capitulation, it\u2019s profit-taking and short re-entries. Those who bought the $67K lows took their 8% and left. Those who chased the $73K breakout are now underwater or stopped\u00a0out.<\/p>\n
Here\u2019s the reality. Iranian media already reported ceasefire violations less than 48 hours after it was announced. The geopolitical narrative that pumped BTC is already dead, and price is repricing accordingly. Below $70K opens the door back to $68K-$67K support. Above $73K\u200a\u2014\u200aif we somehow get there again\u200a\u2014\u200aneeds to hold for more than a few hours to be credible.<\/p>\n
Red candles after false breakouts? Nothing new. Just another day in range-bound hell.<\/p>\n
Red Again? BTC Dumps $2K After Brief Rally<\/a> was originally published in Coinmonks<\/a> on Medium, where people are continuing the conversation by highlighting and responding to this story.<\/p>","protected":false},"excerpt":{"rendered":" So here we are again. BTC trading at $70,904 (-1.07%) after yesterday\u2019s spike to ~$73K got aggressively rejected. The 4-hour chart tells the whole story\u200a\u2014\u200athat massive green candle pumping from $67K straight to $73K on ceasefire news, immediately followed by distribution and now a clean red candle erasing\u00a0gains. Looking at the BTC\/USDT 4H WhiteBIT chart […]<\/p>\n","protected":false},"author":0,"featured_media":148714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-148713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interesting"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/148713"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=148713"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/148713\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/148714"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=148713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=148713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=148713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}