Bitcoin just plunged to around $62,000, then turned around and bounced back to $65,000, leaving a long lower wick on the candlestick chart.
A $3,000 drop and rebound—and the bulls finally fought back. The market is split into two camps: one believes $62,000 was a second bottom, that the base is in, and that $70,000 is the next stop; the other thinks it was merely an oversold bounce, and that prices will break down again, searching for a bottom at $58,000 or even lower.
Some people simply threw the question to Grok, insisting it choose only one option and give probabilities, the ultimate bottom price, and a timeline.
Is this lower wick a lifeline or a trap? We’ll have to wait for the next candlestick to find out.
A $3,000 drop and rebound—and the bulls finally fought back. The market is split into two camps: one believes $62,000 was a second bottom, that the base is in, and that $70,000 is the next stop; the other thinks it was merely an oversold bounce, and that prices will break down again, searching for a bottom at $58,000 or even lower.
Some people simply threw the question to Grok, insisting it choose only one option and give probabilities, the ultimate bottom price, and a timeline.
Is this lower wick a lifeline or a trap? We’ll have to wait for the next candlestick to find out.
