Bitcoin just marked its **sixth consecutive week of declines**, closing at **$68,784** with a 4.29% drop over 24 hours. The **Fear & Greed** index plunged to **20** (extreme fear), losing 8 points in a day. This hasn’t happened since the 2022 bear market.
The structure is concerning: the price **swept four liquidity levels** (PDL, PWL, PML, PYL) without recovering. In Wyckoff terms, a sweep of the lows followed by a sharp rebound (spring) is a sign of accumulation. Here, there was no spring—just a sustained decline.
The **multi-timeframe bias** is tilted downward: daily, weekly, 4H, and yearly are all at -1. Only the 1-hour timeframe is showing a technical rebound, but not enough strength to change the broader direction. The manual analysis points to a “double bottom,” but without bullish divergence or a shift in bias, it could be a pause before another leg down.
The macro backdrop isn’t helping: Jensen Huang’s departure from Nvidia, fears of higher Fed rates, and attention shifting toward traditional IPOs. The market is pricing in risk.
Are we at the final bottom, or is one last capitulation leg toward 63K still ahead? The 67.9K–68.7K zone is a pivot: either a base forms, or the price breaks through violently. What do you see on the chart?
#BTC
The structure is concerning: the price **swept four liquidity levels** (PDL, PWL, PML, PYL) without recovering. In Wyckoff terms, a sweep of the lows followed by a sharp rebound (spring) is a sign of accumulation. Here, there was no spring—just a sustained decline.
The **multi-timeframe bias** is tilted downward: daily, weekly, 4H, and yearly are all at -1. Only the 1-hour timeframe is showing a technical rebound, but not enough strength to change the broader direction. The manual analysis points to a “double bottom,” but without bullish divergence or a shift in bias, it could be a pause before another leg down.
The macro backdrop isn’t helping: Jensen Huang’s departure from Nvidia, fears of higher Fed rates, and attention shifting toward traditional IPOs. The market is pricing in risk.
Are we at the final bottom, or is one last capitulation leg toward 63K still ahead? The 67.9K–68.7K zone is a pivot: either a base forms, or the price breaks through violently. What do you see on the chart?
#BTC