BTC is currently attempting to break out of its two-month sideways range to the upside.
The first major resistance lies in the monthly inefficiency zone: $79,400 – $83,800. This is where we’re likely to see a pause, possible consolidation, or even a reversal.
On the monthly timeframe, the overall bearish structure remains intact. I’m skeptical that the long-term low will form this easily and cleanly without a deeper correction.
Locally on the 4H chart, price action has been messy lots of noise, few clean levels. After breaking above $76k, it makes sense to wait for a pullback before looking for continuation, as any new longs would be sitting above the old range a higher-risk zone.
Prolonged sideways ranges build up significant energy. When the breakout finally happens, it often comes with sharp moves and high volume. However, this is also when fakeouts are most likely.
Watching volume, whale behavior, MVRV, realized price, and macro closely. The market is in a regrouping phase here, patience and risk management matter more than quick decisions.
What do you think about $80k?