📉 BTC Update: Bears Dominate as Price Slips Below $98k
It’s been 6 brutal weeks since the $125k top. Bears are fully in charge, and $BTC has now broken below the critical $98,200 weekly support zone.
We failed to reclaim $107k, and now we're in dangerous territory.
Here's my simple breakdown and plan:
🐻 The Bear Case
As long as we stay BELOW $98,200, bears have complete control. The weekly chart is not favoring any bullish bias right now. Be extremely cautious.
🐂 The Bull Case
For any sign of bullish strength, we MUST reclaim the $98,200 level and hold it as support. This is the only confirmation that matters.
💡 Trade Plan vs. Investment
1. For Traders:
The weekly chart isn't supporting new longs right now. The best and safest bullish trade setup is to wait for a clear reclaim of $98,200. If that happens, you can look for long setups with your invalidation (stop-loss) at whatever low Bitcoin makes.
2. For Investors ($BTC DCA):
If you're a long-term holder (not a trader), this "green zone" looks like a good area to start a slow Dollar Cost Averaging (DCA) strategy.
After weeks of bulls getting destroyed, a relief rally (at least a lower high) is becoming more likely. Personally, I am slowly buying $BTC here, positioning for that potential bounce because the risk/reward feels worth it.
Stay safe and always have an invalidation for your trades!
Disclaimer: Includes third-party opinions. This is not financial advice. Always do your own research (DYOR).
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