Where is BTC’s bottom???
Simply put:
BTC rose from around 76,000, then started wobbling once it reached roughly 88,000. It kept fluctuating but couldn’t climb any higher, and eventually dropped sharply. It’s now down to around 69,000, right at a support level.
Based on this rounded-top breakdown, the next target is probably around 64,000–66,000.
However, indicators are now severely oversold, so there could be a short-term bounce. But if the rebound can’t get back above 76,000, prices could easily keep falling afterward.
My personal view:
Don’t rush to make a large buy near 69,000. If it rebounds to 72,000–73,000, consider trimming a little. If it really breaks below 68,000, look toward 64,000.
The rounded top on this longer-term chart has already broken down, so the medium-term outlook is still weak. Oversold conditions may trigger a bounce, but if it can’t recover, prices will have to keep probing lower to complete the expected rounded-top pattern!
Simply put:
BTC rose from around 76,000, then started wobbling once it reached roughly 88,000. It kept fluctuating but couldn’t climb any higher, and eventually dropped sharply. It’s now down to around 69,000, right at a support level.
Based on this rounded-top breakdown, the next target is probably around 64,000–66,000.
However, indicators are now severely oversold, so there could be a short-term bounce. But if the rebound can’t get back above 76,000, prices could easily keep falling afterward.
My personal view:
Don’t rush to make a large buy near 69,000. If it rebounds to 72,000–73,000, consider trimming a little. If it really breaks below 68,000, look toward 64,000.
The rounded top on this longer-term chart has already broken down, so the medium-term outlook is still weak. Oversold conditions may trigger a bounce, but if it can’t recover, prices will have to keep probing lower to complete the expected rounded-top pattern!
