Not gonna lie, seeing Bitcoin lose the 200-week moving average is getting uncomfortable.
$BTC is trading around $67,432 while the 200W MA sits near $67,993.
That's a level bulls really needed to defend.
We've already seen a brutal correction from the $85K area, and now even this long-term trend indicator is under pressure.
But here's the thing — one weekly candle below the 200W MA doesn't automatically mean Bitcoin is finished.
I want to see whether $BTC can reclaim $68K or if this level turns into resistance on the next retest.
If buyers fail to step in, things could get ugly.
No need to catch a falling knife.
Are we watching another fake breakdown before a recovery, or is this the beginning of a much deeper bear market?
$BTC is trading around $67,432 while the 200W MA sits near $67,993.
That's a level bulls really needed to defend.
We've already seen a brutal correction from the $85K area, and now even this long-term trend indicator is under pressure.
But here's the thing — one weekly candle below the 200W MA doesn't automatically mean Bitcoin is finished.
I want to see whether $BTC can reclaim $68K or if this level turns into resistance on the next retest.
If buyers fail to step in, things could get ugly.
No need to catch a falling knife.
Are we watching another fake breakdown before a recovery, or is this the beginning of a much deeper bear market?
