“$BTC is headed to $60,000” is the most emotionally charged claim, but the original analysis had a condition: losing $73,000.
In a post on November 7, analyst Ali Martinez identified around $73,000—the midpoint of the three-day channel—as key support, saying only a break below it would bring the lower boundary near $60,000 into focus. In related reports, he also noted that $ETH had broken below support near $2,385, with a chart-pattern target of around $1,963; for $XRP , the focus was the channel’s lower boundary at $0.99. These are technical-analysis scenarios, not declines that have already happened, and certainly not prices that are guaranteed to be reached.
I’d first look for signs of support holding before deciding whether to take part in a rebound. The same distant target has a completely different trading significance depending on whether support holds or continues to fail; focusing only on the scariest number means overlooking the condition that actually needs to be verified.
The next time $BTC tests $73,000, would you wait for it to hold before buying the rebound, or wait for a break below and look for the $60,000 area?
In a post on November 7, analyst Ali Martinez identified around $73,000—the midpoint of the three-day channel—as key support, saying only a break below it would bring the lower boundary near $60,000 into focus. In related reports, he also noted that $ETH had broken below support near $2,385, with a chart-pattern target of around $1,963; for $XRP , the focus was the channel’s lower boundary at $0.99. These are technical-analysis scenarios, not declines that have already happened, and certainly not prices that are guaranteed to be reached.
I’d first look for signs of support holding before deciding whether to take part in a rebound. The same distant target has a completely different trading significance depending on whether support holds or continues to fail; focusing only on the scariest number means overlooking the condition that actually needs to be verified.
The next time $BTC tests $73,000, would you wait for it to hold before buying the rebound, or wait for a break below and look for the $60,000 area?
