Lennaert Snyder|Nov 04, 2026 16:17
BTC purged the October low and repriced back up quickly.
In the chart, I plotted the October and September range, these are important HTF reference points.
In a range, when you sweep the low and reject it, the first interesting reference point is the 50%.
In this case that's that 82K level, this is the level Bitcoin needs to flip to aim for 87K+.
If we see rejections there, I'll look for shorts back to lower prices, with the range-low as final draw.
The fact that we purged the low and didn't lose it, tells a lot about the current momentum.
If we would lose the October low and use it as resistance on price, that's when a move lower is likely. Same goes for the September low.
If BTC continues the upward momentum from here, we should see high resistance moves to the downside, followed by quick low resistance moves to the upside.
This is what I meant when I stated the moves up go faster than the moves down in bullish sentiment.
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