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BTC, if there isn’t a major bearish catalyst, 5w will be hard to break through effectively.
But if it doesn’t break through, pulling it up will be more difficult.
The bottom-building period will also need to be longer.
In the past week, even with ETFs seeing continuous net outflows like this, they were all absorbed.
So it’s normal for the rebound to reach around 62.
This weekend is for consolidation; it’s unlikely there will be a big drop.
Whether 6w can form a major bottom is still uncertain.
For long-term purposes, this level still isn’t something you can act on.
But if it doesn’t break through, pulling it up will be more difficult.
The bottom-building period will also need to be longer.
In the past week, even with ETFs seeing continuous net outflows like this, they were all absorbed.
So it’s normal for the rebound to reach around 62.
This weekend is for consolidation; it’s unlikely there will be a big drop.
Whether 6w can form a major bottom is still uncertain.
For long-term purposes, this level still isn’t something you can act on.