*BTC: Lost Feb support, now resistance*

You nailed the key points. Let’s make it simple:

*What happened on the chart:*

1. *Lost support*: BTC was holding a flat line from February. Price broke below it.

2. *Retest failed*: Price came back up to that same line, but got pushed down. That’s called “support turning into resistance.” Bears are in control there.

3. *Higher time frames*: Daily, weekly charts still point down. Means the big trend is bearish for now.

*Your target:*

You said “longer-term target from 8 months ago is inbound.”

That usually means a price level you drew way back that hasn’t hit yet. If the bearish trend keeps going, price tends to visit old targets.

*Current price*: $61,227, down 3.1% today.

*What traders watch next:*

1. *Next support*: If Feb line is gone, people look for the next floor. Maybe the next swing low, or round numbers like $60k, $58k.

2. *Volume*: If BTC drops on big volume, the move is stronger. If low volume, it might fake out.

3. *Invalidation*: If BTC closes back above that Feb line and holds, then the bearish idea is wrong.

*Key idea:*

“Trend is your friend.” Right now the higher time frame trend is down, so bounces get sold.

Not financial advice. BTC is volatile and can reverse fast on news.

Did you set that 8-month target based on a measured move, or a previous low?