$BTC MONTHLY BREAKDOWN đ | PART 3.
Continuing the BTC top-down price action series. If you missed the yearly and quarterly breakdowns, check my page for the previous analysis.
Now we're moving down to the Monthly timeframe to see how the bigger quarterly structure is actually playing out.
The first thing that stands out is the rejection from the $75K-$76K area. BTC pushed into that zone but couldn't hold the move, and we've seen weakness since then. That lines up with what we saw on the quarterly chart.
Right now, BTC is sitting around $65K, with the $63K-$65K area becoming an important zone to watch. Buyers have managed to defend this region so far, but there is still plenty of resistance overhead.
The main levels I'm watching above are around $65.7K, $66.9K, $68K, $72.6K, $73.6K, $74.1K, $74.6K and $76K+. That's a lot of resistance to work through before we can seriously start talking about a monthly trend reversal.
So for now, I wouldn't call this a reversal. I'd call it an attempt to stabilize after the sell-off.
If #BTC can defend the $63K-$65K area and start reclaiming those levels above, the monthly structure could gradually shift from bearish to consolidation and potentially bullish.
But if this support fails, we could see BTC revisit lower levels from the quarterly structure.
Yearly: Bearish
Quarterly: Bearish, but Q3 recovery attempt
Monthly: Trying to stabilize
Now let's see whether the Weekly timeframe confirms this recovery or tells us something completely different.
Big picture first. Entries later!
#Macro Insights# #BTC Price Analysis#
Continuing the BTC top-down price action series. If you missed the yearly and quarterly breakdowns, check my page for the previous analysis.
Now we're moving down to the Monthly timeframe to see how the bigger quarterly structure is actually playing out.
The first thing that stands out is the rejection from the $75K-$76K area. BTC pushed into that zone but couldn't hold the move, and we've seen weakness since then. That lines up with what we saw on the quarterly chart.
Right now, BTC is sitting around $65K, with the $63K-$65K area becoming an important zone to watch. Buyers have managed to defend this region so far, but there is still plenty of resistance overhead.
The main levels I'm watching above are around $65.7K, $66.9K, $68K, $72.6K, $73.6K, $74.1K, $74.6K and $76K+. That's a lot of resistance to work through before we can seriously start talking about a monthly trend reversal.
So for now, I wouldn't call this a reversal. I'd call it an attempt to stabilize after the sell-off.
If #BTC can defend the $63K-$65K area and start reclaiming those levels above, the monthly structure could gradually shift from bearish to consolidation and potentially bullish.
But if this support fails, we could see BTC revisit lower levels from the quarterly structure.
Yearly: Bearish
Quarterly: Bearish, but Q3 recovery attempt
Monthly: Trying to stabilize
Now let's see whether the Weekly timeframe confirms this recovery or tells us something completely different.
Big picture first. Entries later!
#Macro Insights# #BTC Price Analysis#