Is BTC at $76k Real or the Final Trap before the Re-test? 🚀⚠️
Yesterday we brushed against $74k and today we wake up in a new world. Bitcoin has marked a high of $76,000, but while everyone celebrates, at Nexo Analysis we look at what others ignore.
1. Daily Chart (1D): The "Over-Extension"
The feat: BTC surpassed the previous ATH with a volume of 28k BTC, injecting a brutal force into the market.
The risk: The price is now very far from the EMA 9 ($71,808). Historically, when Bitcoin deviates so much from its fast average, it tends to "return home" to test support before continuing to rise.
RSI (68.51): Interestingly, the daily RSI is not as overheated as yesterday (it dropped from 77 to 68), which is a hidden bullish divergence. It means that the price rose while the indicator cooled down. Pure power!
2. Monthly Chart (1M): The Giant remains underestimated 🐘
Cycle close: The monthly candle is a declaration of war against the bears. Recovering $73,700 from the bottom of $60k is one of the largest absorptions of the year.
Monthly RSI (34.70): Here is the secret to breaking the algorithm: the macro market is just getting started. An RSI of 34 on the monthly is "floor", not "ceiling". We have a clear runway to rise well beyond $80k this year.
Nexo Analysis Verdict: "Patience at the Top" 🔍⚖️
Don’t chase the price at $76k. Liquidity is now at $72,990 (the low of the last 24h).
If we break $76,000 strongly: The next psychological magnet is $80,000.
If we pull back: We will look for support at $71,800 to clean out those who entered late with too much leverage.
$BTC Is it time for "Take Profit" or to hold until the moon? The answer lies in your risk management. I’m reading you! 👇
#Bitcoin #BTC #NexoAnalisis #BinanceSquare #76k