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🟧 ON THE CHARTS
BTC closed the week around 82K after rejection near 84K.
Buyers stepped in quickly around 80K, leaving a pronounced lower wick. Selling pressure appeared, but demand around the lows remains active.
1/6 🧶
My bias still leans toward a pullback.
The difference now is that I’m starting to see more evidence supporting it.
Daily upside momentum has moderated, RSI is moving back toward neutral, and CMC Fear & Greed has cooled to 49, Neutral.
5/6
The higher-time-frame structure still allows another move higher, but evidence for consolidation is becoming more visible.
What does your chart say: another leg higher before year-end, or a deeper reset first?
Read the full Monday Market Read on Telegram:
t.me/ChartelCrypto/69
6/6
🟧 ON THE CHARTS
BTC closed the week around 84K after another rejection near 87K.
The candle formed a bearish engulfing body, but the long lower wick shows buyers stepped in around the lows and absorbed part of the selling pressure.
1/6 🧶
CMC Fear & Greed is currently at 57, back in Neutral territory.
At the same time, the monthly Heikin Ashi structure still shows positive trend persistence.
That is why I would not force a bearish conclusion while the broader structure remains constructive.
5/6
Maybe BTC has more upside left than I currently expect.
My bias still leans toward a pullback, but right now the market has not confirmed it.
I would rather let the structure develop than force the chart to agree with my bias.
Read the full Monday Market Read on Telegram:
t.me/ChartelCrypto/68
6/6
#BTC closed the week around 86K after another rejection near 87K.
The weekly structure remains constructive, but repeated rejection at the highs shows that supply is still active.
1/6 🧶
On the daily chart, BTC may be developing a potential double top around 87K.
At the same time, price has made a higher high while RSI has made a lower high, creating a bearish RSI divergence.
Both point toward possible momentum cooling.
5/6
Neither the potential double top nor the RSI divergence confirms a reversal on its own.
The double top would still need confirmation through a break of support.
My bias still leans toward some cooling or consolidation, but the higher-time-frame structure remains constructive for now.
Read the full Monday Market Read on Telegram:
t.me/ChartelCrypto/67
6/6
BTC closed the week around 84K after rejection near 87K.
Buyers pushed higher, but supply absorbed part of the move and forced the weekly close back toward 84K.
Clear two-way trade at the highs.
1/6 🧶
🤖 Made with AI
My current read:
BTC has delivered a strong upside move, but I think it is too early to assume this leg continues without a meaningful reset.
Price still needs to hold the breakout area, absorb supply, and confirm the higher-low structure.
Fear & Greed: 68
5/6
The September monthly close will matter.
A close below 78K would materially weaken the current bullish structure and strengthen the case for a deeper correction.
Strength back above 85K would materially improve the bullish case.
I still lean toward some cooling, but the market has not confirmed it yet.
Full Monday Market Read on Telegram.
t.me/ChartelCrypto/65
6/6





