#bitcoinbreaksbelow200weekmovingaverage
🩸 #BTC has officially posted its sixth consecutive weekly decline, falling below both the 68k mark and the 200-week MA!
Bad news is piling up every day: the DXY has topped 103, U.S. Treasury yields have reached 5.125%, and ETFs have seen net outflows of $1.56 billion since the start of the year (with $2.6 billion vanishing in just the past two weeks). Add to that the prospect of Strategy being dropped from the MSCI USA Index and more than $1.3 billion in derivatives liquidations, and the market is left "on oxygen."
On the weekly chart, the bear flag pattern has confirmed a breakdown, turning the solid support zone of 58k–64k into the Bulls’ "last stronghold." If this final line of defense gives way, the crypto winter will be brutally cold! Even so, some whales like Joe Carlasare see this extreme fear as a chance to scoop up coins at bargain prices.
💡 What should traders do now?
Stay put and keep a low profile. Absolutely do not FOMO into a falling market or use high leverage. Patiently wait for the price to test the 58k–64k zone, and wait for a clear reversal signal before entering.
⚠️ This is not financial advice.
👉 Click below to trade and support me: $BTC
$ETH
$BARD
#VINHTOCDO #Bitcoin #CryptoNews #MarketUpdate #TechnicalAnalysis #TradingTips
🩸 #BTC has officially posted its sixth consecutive weekly decline, falling below both the 68k mark and the 200-week MA!
Bad news is piling up every day: the DXY has topped 103, U.S. Treasury yields have reached 5.125%, and ETFs have seen net outflows of $1.56 billion since the start of the year (with $2.6 billion vanishing in just the past two weeks). Add to that the prospect of Strategy being dropped from the MSCI USA Index and more than $1.3 billion in derivatives liquidations, and the market is left "on oxygen."
On the weekly chart, the bear flag pattern has confirmed a breakdown, turning the solid support zone of 58k–64k into the Bulls’ "last stronghold." If this final line of defense gives way, the crypto winter will be brutally cold! Even so, some whales like Joe Carlasare see this extreme fear as a chance to scoop up coins at bargain prices.
💡 What should traders do now?
Stay put and keep a low profile. Absolutely do not FOMO into a falling market or use high leverage. Patiently wait for the price to test the 58k–64k zone, and wait for a clear reversal signal before entering.
⚠️ This is not financial advice.
👉 Click below to trade and support me: $BTC
$ETH
$BARD
#VINHTOCDO #Bitcoin #CryptoNews #MarketUpdate #TechnicalAnalysis #TradingTips
