Honestly? The chart doesn't look great right now. BTC ran up to $126K in October, and has been bleeding ever since, 5 months of consistent lower highs. We're now back to where we were in mid-2024.
Levels to Watch:
๐ด Resistance: $73K โ $85K
๐ข Support: $65K (hold here or else)
โ ๏ธ Danger: Below $65K opens $60โ62K
What the Chart Says
Weekly downtrend is intact. Sell volume has been heavy all the way down. There's a small wick on the latest candle hinting at exhaustion, but one candle doesn't make a reversal. Not yet.
What the Market Says
Macro is rough, tariffs, geopolitics, risk off mood. But quietly, whales and institutions are nibbling. Long term holders have nearly stopped selling. That's actually a good sign beneath the surface.
๐ด Bottom Line: Stay Away for now
This is not the time to be a hero. Wait for a weekly close above $73K before getting excited. If you're a long-term believer, small DCA between $65Kโ$67K is fine, but keep dry powder ready in case it dips to $60K, which would be the real buy zone.
Patience > FOMO right now. ๐
Not financial advice.