$BTC is now breaking below a key high-timeframe support zone, highlighted in purple, which also aligns with the 0.786 Fibonacci POI around $65.9K. This level has acted as a major reversal area over the past few months, making this breakdown a critical development.
This is exactly why I’ve chosen not to scale out of my hedge positions yet. I’m waiting for clear confirmation that a durable bottom is in place. The key signal I’m watching is a reclaim of the 1D Bull Market Support Band — a level that has consistently marked strong reversals in this cycle.
Until we see confirmed strength, whether through improving market structure or supporting data signals, the risk of continued downside remains valid.
My stance remains unchanged: I stay hedged, cautious, and prepared for further downside — while remaining ready to shift bullish once the market proves strength and confirms a true bottom formation.
Buy from here now👇
BTC
74,322.66
+0.05%
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