At 62,006, that needle stabbed down—and bottom-fishers are still shouting, “Oversold means it’s the bottom?”
RSI at 21, Fear & Greed at 12, six straight red weekly candles about to close—oversold is a fact; a bottom isn’t.
This week opened at 74,740 and got hammered all the way down to 62,006, a four-month low. ETFs saw $1.07 billion in outflows for the week. Saturday’s wick bounced back to 65,259. It looks like a rebound, but it’s still more than $2,700 below the 200-week moving average at 68,000.
The verdict won’t come from tonight’s rebound, but from the weekly close tomorrow morning at 8 (Beijing time): if it can’t reclaim 68,000, six straight down weeks are confirmed, with 64,686 as the next level, then the area around 60,000. If it reclaims 68,000, I’ll admit I was wrong—put the bearish view on hold and switch to a wait-and-see stance.
ETH at 1,820, SOL at 72.11—everything has broken down, and not one has climbed back above its level. Weekend volume is thin, so don’t chase either way—bottom-fishing is handing free kills to the bears, while chasing shorts means betting on a direction on Sunday night.
Are you betting the weekly close gets back above 68,000, or not?
Not investment advice.
$BTC $ETH $SOL
#BTC #比特币 #Macro
RSI at 21, Fear & Greed at 12, six straight red weekly candles about to close—oversold is a fact; a bottom isn’t.
This week opened at 74,740 and got hammered all the way down to 62,006, a four-month low. ETFs saw $1.07 billion in outflows for the week. Saturday’s wick bounced back to 65,259. It looks like a rebound, but it’s still more than $2,700 below the 200-week moving average at 68,000.
The verdict won’t come from tonight’s rebound, but from the weekly close tomorrow morning at 8 (Beijing time): if it can’t reclaim 68,000, six straight down weeks are confirmed, with 64,686 as the next level, then the area around 60,000. If it reclaims 68,000, I’ll admit I was wrong—put the bearish view on hold and switch to a wait-and-see stance.
ETH at 1,820, SOL at 72.11—everything has broken down, and not one has climbed back above its level. Weekend volume is thin, so don’t chase either way—bottom-fishing is handing free kills to the bears, while chasing shorts means betting on a direction on Sunday night.
Are you betting the weekly close gets back above 68,000, or not?
Not investment advice.
$BTC $ETH $SOL
#BTC #比特币 #Macro