BTC is getting slapped around right now. Not gonna lie, that 4H chart looks ugly.
$BTC is sitting near $65,181, down around 3.59%, and the selling pressure has been pretty aggressive since losing the $72K area.
But something caught my attention.
Price wicked all the way down to $61,956 and bounced back. Volume also picked up on that candle. Could be buyers stepping in, or just another temporary relief bounce before the next leg down.
The bigger picture still isn't bullish. BTC is trading below all three moving averages:
MA7: $65,975
MA25: $70,158
MA99: $75,160
That's a pretty clear bearish structure.
My plan: I'm not chasing a long here.
If BTC reclaims $66K and holds the retest, I'd watch $67,700 → $68,650 → $70,150.
If it gets rejected around $66K–$67K, another move toward $62K is absolutely possible.
For now, $61,956 is the level I don't want to see broken again.
Interesting part is that BTC has bounced, but the trend hasn't changed yet.
Are we watching the beginning of a proper recovery, or is this just another fake bounce before BTC takes another trip down? 👀
#Bitcoin #BTC #CryptoMarket #BTCAnalysis #BinanceSquare
$BTC is sitting near $65,181, down around 3.59%, and the selling pressure has been pretty aggressive since losing the $72K area.
But something caught my attention.
Price wicked all the way down to $61,956 and bounced back. Volume also picked up on that candle. Could be buyers stepping in, or just another temporary relief bounce before the next leg down.
The bigger picture still isn't bullish. BTC is trading below all three moving averages:
MA7: $65,975
MA25: $70,158
MA99: $75,160
That's a pretty clear bearish structure.
My plan: I'm not chasing a long here.
If BTC reclaims $66K and holds the retest, I'd watch $67,700 → $68,650 → $70,150.
If it gets rejected around $66K–$67K, another move toward $62K is absolutely possible.
For now, $61,956 is the level I don't want to see broken again.
Interesting part is that BTC has bounced, but the trend hasn't changed yet.
Are we watching the beginning of a proper recovery, or is this just another fake bounce before BTC takes another trip down? 👀
#Bitcoin #BTC #CryptoMarket #BTCAnalysis #BinanceSquare
