$BTC (1D) - nearing make or break
Quiet week, so I stepped back a bit to reset.
BTC is now approaching a key decision point after being rejected again by the downtrend from the ATH. Price is compressing inside the parallel channel and moving closer to the apex.
If this channel breaks, the path becomes clearer:
- Loss of the channel → retest of S1
- Failure there → potential shakeout toward S2 before the next rally begins
What stands out is how familiar this looks to what we saw at the beginning of the year.
Price action, RSI, and Stochastic RSI are very similar to January 2025, right before BTC made one final leg lower.
Be mentally prepared for that scenario.
The only way BTC avoids this downside move is a clean break above the downtrend, followed by acceptance and confirmation as support.
Until then, we have to be patient and wait for confirmation.
