The short-term chart looks shaky, but zoom out to the monthly chart and you’ll see strong buying support. BTC found support in the pullback zone and closed the month there, leaving a long lower wick and finishing firmly near the top of the range.
Bears sold off for hours, but couldn’t generate any follow-through. Instead, they pushed the market’s lows higher step by step. On top of that, spot ETFs brought in around $190 million in net inflows in a single day, providing a floor. The pullback has clearly become a springboard for sidelined capital to accumulate.
Higher monthly lows and a close near the top of the range are signs of a defensive counterattack on a higher timeframe—not something a few intraday swings can break.
#BTC
Bears sold off for hours, but couldn’t generate any follow-through. Instead, they pushed the market’s lows higher step by step. On top of that, spot ETFs brought in around $190 million in net inflows in a single day, providing a floor. The pullback has clearly become a springboard for sidelined capital to accumulate.
Higher monthly lows and a close near the top of the range are signs of a defensive counterattack on a higher timeframe—not something a few intraday swings can break.
#BTC
