PANews October 13 news: Trader Killa posted that for Bitcoin to continue a market structure similar to 2023, it needs to form a higher low (HL) above $75,500 and preferably hold the low area near $80,000. In the 2023 price action, Bitcoin first formed a weekly higher high (HH), then pulled back to confirm range support and began the subsequent rally. If BTC's current price action is to replicate this structure, the key lies in whether it can complete support confirmation after the current pullback. Killa said that the reason recent BTC short-term price action has shown strong "hunting" characteristics may be related to the market's ongoing liquidity game. BTC previously reclaimed its short-term internal structure near $82,000, then pulled back to test and broke through again, with the market repeatedly creating breakout and breakdown signals.
PANews October 13 news: Trader Killa posted that if Bitcoin is to continue a market structure similar to 2023, it needs to form a higher low (HL) above $75,500 and preferably hold the low area near $80,000.
In the 2023 price action, Bitcoin first formed a weekly higher high (HH), then pulled back to confirm range support and began the subsequent rally. If BTC's current price action is to replicate this structure, the key lies in whether it can complete support confirmation after the current pullback.
Killa said that the reason recent BTC short-term price action has shown strong "hunting" characteristics may be related to the market's ongoing liquidity game. BTC previously reclaimed its short-term internal structure near $82,000, then pulled back to test and broke through again, with the market repeatedly creating breakout and breakdown signals.
The current market needs to form a higher low and start the next leg up; otherwise, this correction may extend further below $80,000. In the short term, whether BTC can hold key support levels will determine the direction of the subsequent trend.