BTC is around $63.5k now. Today it’s down by about 2.5%. The level around $64k that it had been grinding at for the past two days was smashed through directly today.

Over the past week, it’s down about 2.6%, but looking back over the past month, it’s still up—up nearly 6%. The monthly chart’s underlying base is still there; it’s just that the short-term trend over the past two days has clearly turned weaker. Earlier, during the 24-hour high, it even touched $65.5k. Now it’s already dropped out more than $2k, and this sell-off is pretty decisive.
In the analysis a few days ago, I mentioned that the $63.5k to $64k area is a key support. Now the price has fallen to this line—so it’s basically formally testing whether this level can hold.
This area is quite critical. If it holds, there’s a high chance the prior sideways range pattern will continue, potentially giving an opportunity to enter on pullbacks. If this line also can’t hold and breaks down directly, then we may have to look at even lower levels, and short-term risk will increase. If you’re holding long positions, pay close attention at this time and don’t stubbornly hold. If you’re shorting and chasing shorts at this level, be careful of a rebound. BTC is around $63.5k now. Today it’s down by about 2.5%. The level around $64k that it had been grinding at for the past two days was smashed through directly today.
Over the past week, it’s down about 2.6%, but looking back over the past month, it’s still up—up nearly 6%. The monthly chart’s underlying base is still there; it’s just that the short-term trend over the past two days has clearly turned weaker. Earlier, during the 24-hour high, it even touched $65.5k. Now it’s already dropped out more than $2k, and this sell-off is pretty decisive.
In the analysis a few days ago, I mentioned that the $63.5k to $64k area is a key support. Now the price has fallen to this line—so it’s basically formally testing whether this level can hold.
This area is quite critical. If it holds, there’s a high chance the prior sideways range pattern will continue, potentially giving an opportunity to enter on pullbacks. If this line also can’t hold and breaks down directly, then we may have to look at even lower levels, and short-term risk will increase. If you’re holding long positions, pay close attention at this time and don’t stubbornly hold. If you’re shorting and chasing shorts at this level, be careful of a rebound. #直通IPO第二期JerseyMikes