After a brutal 13% correction in just one week, traders are now asking the only question that matters:
Where is Bitcoin's real bottom?
📉 According to analyst Gareth Soloway, BTC is currently forming a classic bear flag pattern a setup that historically favors another leg lower after a period of consolidation.
Here are the key levels everyone should be watching:
🔹 $65,500 – First support zone. A short-term bounce is possible, but it’s not considered a major reversal area.
🔹 $60,000 – The critical battlefield. If buyers fail to defend this level, market sentiment could deteriorate rapidly.
🔹 $50,000 – The next major target if $60K breaks. Losing this psychological level could trigger a much deeper wave of fear.
🔹 $35,000 – The extreme bearish scenario based on a larger head-and-shoulders formation.
⚠️ Another concern is Strategy (formerly MicroStrategy).
For the first time since 2022, the company sold a portion of its Bitcoin holdings. While the sale was small, the market is watching closely. Strategy currently holds over $63 billion worth of BTC, with an average acquisition cost around $75,000.
If Bitcoin continues to weaken and pressure mounts on leveraged corporate holders, the market could face a much more aggressive downside move.
📊 For now, the $60K zone remains the most important support on the chart.
Hold it, and $BTC may stabilize.
Lose it, and the conversation quickly shifts toward $50K.
What do you think comes first?
🐂 Recovery above $70K 🐻 Breakdown below $60K