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59,131. The number smashed out on Friday is the anchor for everyone next week. Holding it means a rebound is possible. Can't hold, and the narrative rewrites.
This week from 74k down to 59k, nearly 20% evaporated in five days. The most painful part isn't the decline, but the rhythm. Every day waking up to a price lower than the night before. ETH fell below 1600, SOL dropped from 90 to 64. No coin is spared.
The only core question for next week: can 59k hold? Holding it means panic selling ends, and some dare to buy the dip. Can't hold, and there's no consensus support below. 50k isn't a technical level, it's a psychological level. Further down, it's not about price, but whether the narrative still exists.
My own plan: don't bet on the bottom. Early next week, if 59k holds, and it doesn't make a new low for two consecutive days, then start building positions. Not bottom-fishing, but confirmation. If it crashes through at the open on Monday, keep waiting. The extreme fear of 2022 lasted three months, and prices fell another 30%. Emotions are not a bottom signal; price structure is.
It's over the pain. The market is still turning, pipelines are still being repaired, infrastructure is still being built. Don't treat a week's worth of emotion as an eternal narrative. See you next week.