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$BTC has broken down from the rising channel and is now sitting on a major confluence zone: weekly FVG and 200-week EMA around 65K. This is a critical demand area.
Key levels
Support: 60K – 66.5K
Invalidation: weekly close below 66.5K
Recent weekly candles show aggressive sell-side expansion into long-term support. The latest candle is sitting on the 200-WEMA, suggesting selling pressure is slowing.
A breakdown below 66K would open the door to the next weekly FVG at 43K–48K.
Bias
This looks like a higher-timeframe correction, not a bear market.
Smart money typically accumulates in this zone.
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Thank you
PEACE
#CryptoMarket