$BITCOIN 9-Day Winning Streak Has Officially 🔚 🔊 🔊
After 9 straight days of gains, BTC finally paused yesterday.
Here’s what caused it:
The first net outflows from Spot $BITCOIN $ETHFI Fs in 2 weeks triggered profit-taking. Price dropped from $69,800 and is now testing the $68,000 support zone.
Key Levels to Watch:
$68,000 was resistance for 2 months. Now it needs to hold as support.
If we hold: Next target is $72,000 - $75,000
If we lose it: Expect a pullback to $65,000
My take:
This looks like a healthy correction, not a reversal. The overall structure is still bullish. Funding rates also cooled down which is good for the next leg up.
I’m watching the $68,000 - $68,200 area for potential entries.
After 9 straight days of gains, BTC finally paused yesterday.
Here’s what caused it:
The first net outflows from Spot $BITCOIN $ETHFI Fs in 2 weeks triggered profit-taking. Price dropped from $69,800 and is now testing the $68,000 support zone.
Key Levels to Watch:
$68,000 was resistance for 2 months. Now it needs to hold as support.
If we hold: Next target is $72,000 - $75,000
If we lose it: Expect a pullback to $65,000
My take:
This looks like a healthy correction, not a reversal. The overall structure is still bullish. Funding rates also cooled down which is good for the next leg up.
I’m watching the $68,000 - $68,200 area for potential entries.
