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Next week there's only one thing worth watching: 59,131.
On Monday it was still at 74k, by Friday it dropped to a low of 59k. In five days, $13,000, not a single breath.
59k held. But it held in a very ugly way. On Friday, it bounced back from 59,131, then rose to 61k and stopped. This isn't a V-shaped rebound, it's the market asking itself a question: are there still buyers below?
Next week's narrative isn't about whether it will rise or fall. It's about whether the 59k level is a floor or a window.
In the last cycle, it hovered in this range for two months before dropping, but this time it only took a week. The speed is different, the structure is different. If 59k is broken again, there's no structure supporting it below.
I'm not bearish. I'm saying, don't rush to buy. Wait for the market to give the answer of 59k itself. Money is always available in the market; once it's gone, everything is gone.