Sanctum Staked SOL

<p>Sellers could not deliver the downside break</p><p>The bitcoin sellers had their opportunity to take more control. On Friday, Monday and again today, the price traded to (and even below today) its 100 day moving average, currently at $76,654 (purple MA line). Those breaks opened the door for a move toward the 38.2% retracement of the rally from the July low at $76,052 and the highlighted swing area extending down toward $74,925.</p><p>Those were the targets to get to — and through — if the sellers were going to extend the downside.</p><p>They missed.</p><p>The price could not sustain a break below the 38.2% retracement, and the swing area that has attracted buyers and sellers since August held. The sellers got below the 100 day MA today briefly, but they could not turn that break into a sustained move lower.</p><p>That failure gives buyers a reason to lean against support, define their risk and push back higher. And they did just that today.  </p><p></p><p>Buyers have their opening, but need to follow through</p><p>Now it is the buyers’ turn. However, holding support is only part of the job. They also need to break resistance in their own upward direction.  .</p><p>The first upside barometer is the 100 hour moving average near $77,408 on the chart. With the price extending to $77,736, bitcoin buyers are testing that level. Getting above is one step. Staying above and building momentum is the next.</p><p>Above that, the falling 200 hour moving average comes in near $78,730. That is the next key hurdle, followed by resistance near $79,146 (prior lows).</p><p>Get and stay above those levels, and the buyers would take back more control. The next upside target would then come in near $81,930.</p><p>Until those breaks happen, the rebound remains a recovery within the recent move lower. The buyers have their opportunity, but they need to show they can do more with it than the sellers did with theirs.</p><p>What would give sellers another chance?</p><p>If the rebound stalls against the hourly moving averages, the sellers remain in the game.</p><p>A move back below the 100 day MA at $76,656 would weaken the buyers’ progress and put the $76,052 retracement back in play. Below that, the lower edge of the swing area near $74,925 becomes the next key target.</p><p>A sustained break below that area would give the sellers the follow-through they have so far failed to deliver. It would also open the door toward the 200 day moving average near $73,158 and the 50% midpoint at $72,554.</p><p>For now, however, support held. The focus shifts to whether buyers can turn that successful defense into a break of resistance.</p><p>Education: A failed break creates an opportunity, not a guarantee</p><p>When the price breaks a key technical level, traders look for momentum in the direction of the break. If that momentum does not develop and the price moves back across the level, the failure becomes information.</p><p>In this case, sellers broke below the 100 day MA but could not get through the retracement and swing support below it. That tells us buyers were willing to step in against a defined area.</p><p>The next test is whether those buyers can take out resistance. Support defines the risk. The hourly moving averages measure their progress. A move above those averages strengthens the bullish bias; a rejection gives sellers another opportunity.</p><p>The lesson is to let the price action confirm the shift. A failed downside break gives buyers an opening, but getting and staying above resistance is what turns that opening into greater control.</p><p>In this video</p><p>In this video, I show where the bitcoin sellers had their shot below the 100 day moving average, why their failure to break the 38.2% retracement and swing area matters, and what the buyers need to do next. I outline the key barometers, risk levels and upside targets that will help determine which side takes control.</p> This article was written by Greg Michalowski at investinglive.com.