Breaking news, breaking news! Listen up, guys—I just saw a CoinDesk alert: BTC just plunged to a new three-month low, breaking below 63,000! 📉
Analyst James Check put it perfectly: "The price they’re selling at now is exactly the price they were dreaming of buying at three months ago." It stings, but it’s true. The fourth wave of capitulation selling basically means panicked traders are cutting their losses, and retail investors are getting shaken out. These waves of capitulation often happen near interim bottoms—but note, that’s a "zone," not a "single point." A fourth wave suggests the market hasn’t fully flushed out yet, so don’t rush to go all in.
My quick take: 63,000 has already been breached, so short-term sentiment is bearish—but the more things look like this, the more closely you need to watch. The key level below is the 60,000 round-number mark: it’s a psychological line in the sand and where many people’s stop-losses are clustered. Below that, 58,000–59,000 is a strong support zone; if we get there, I’ll buy in gradually. For a rebound, watch 65,000–66,000 first. If price can’t get back above that range, it’s a weak bounce.
My advice: Don’t chase the short here—the risk-reward is too poor. And don’t go all in trying to catch the bottom either; placing staggered limit orders is steadier. Manage your position size and keep plenty of cash on hand. In moments of capitulation like $BTC , panicked people hand over their coins, while calm people scoop up bargains—which kind do you want to be? 🚀
Back to watching the charts. I’ll let you know as soon as anything new happens!
Analyst James Check put it perfectly: "The price they’re selling at now is exactly the price they were dreaming of buying at three months ago." It stings, but it’s true. The fourth wave of capitulation selling basically means panicked traders are cutting their losses, and retail investors are getting shaken out. These waves of capitulation often happen near interim bottoms—but note, that’s a "zone," not a "single point." A fourth wave suggests the market hasn’t fully flushed out yet, so don’t rush to go all in.
My quick take: 63,000 has already been breached, so short-term sentiment is bearish—but the more things look like this, the more closely you need to watch. The key level below is the 60,000 round-number mark: it’s a psychological line in the sand and where many people’s stop-losses are clustered. Below that, 58,000–59,000 is a strong support zone; if we get there, I’ll buy in gradually. For a rebound, watch 65,000–66,000 first. If price can’t get back above that range, it’s a weak bounce.
My advice: Don’t chase the short here—the risk-reward is too poor. And don’t go all in trying to catch the bottom either; placing staggered limit orders is steadier. Manage your position size and keep plenty of cash on hand. In moments of capitulation like $BTC , panicked people hand over their coins, while calm people scoop up bargains—which kind do you want to be? 🚀
Back to watching the charts. I’ll let you know as soon as anything new happens!