This week Bitcoin experienced a roller coaster, ending up back at the starting point. But the middle part of the move was valuable.


On Monday, it opened at 77.5K, reached 78.2K on Thursday, giving the impression it was about to break through.
On Friday, it dropped straight to 75.3K, and on Saturday, it hit a low of 74,290, the lowest point in recent weeks.
Then it bounced back, and today it returned to 77K.
The weekly gains and losses offset each other, and the fear index remains at 25, indicating extreme fear.
Next week, I will watch two levels.
74,290 is the support established this week; if it holds, the bulls still have a breath of life.
If it doesn’t hold, 72K nearby is the next line of defense, where someone will step in.
Upward, 78.2K is this week’s high; breaking through here would mean a move beyond 79K, which would confirm a trend reversal to strong.
My plan for next week is simple.
No chasing the rally or bottom-fishing; my short positions are already fully loaded, waiting for the structure to develop on its own.
If early in the week it can stay above 75K for two days, I’ll consider the possibility of continued sideways movement.
If it drops again to test 74K early in the week, it’s not a rebound to wait for, but a confirmation.
Once it breaks below 72K, it’s highly likely that the next bottom will be tested in the future.
BTC1.51%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned