Okay so... $BTC has now fallen below the crucial $72.5k region and honestly, the chart is getting uglier with every passing day.
BTC is already trading around $71.9k after touching $71,762... and buyers are barely putting up a fight.
Look at the 1H structure... lower highs, lower lows and every little recovery is getting sold again.
I was expecting a recovery towards $80k earlier, but the market clearly had other plans.
Now i am watching $70k very closely.
If BTC loses $70k and fails to reclaim it, i wouldn't be surprised to see $68k first and eventually $65k.
And look at $ETH ... already below $2,000, while $ZEC has also lost that crucial $1,000 level after weeks of holding above it.
This is not the time to blindly accumulate LONGS with high leverage just because everything looks cheap.
I still believe in the long-term potential of these coins... but short term? Bears are clearly in control.
Are we really heading towards $65k or will BTC surprise everyone with another recovery?
BTC is already trading around $71.9k after touching $71,762... and buyers are barely putting up a fight.
Look at the 1H structure... lower highs, lower lows and every little recovery is getting sold again.
I was expecting a recovery towards $80k earlier, but the market clearly had other plans.
Now i am watching $70k very closely.
If BTC loses $70k and fails to reclaim it, i wouldn't be surprised to see $68k first and eventually $65k.
And look at $ETH ... already below $2,000, while $ZEC has also lost that crucial $1,000 level after weeks of holding above it.
This is not the time to blindly accumulate LONGS with high leverage just because everything looks cheap.
I still believe in the long-term potential of these coins... but short term? Bears are clearly in control.
Are we really heading towards $65k or will BTC surprise everyone with another recovery?
