#SOLSlides20%InAMonth
Bitcoin is still trading below the $59,000 level after repeatedly failing to reclaim the $61,000.
That reclaim was one of the key areas we were watching.
Instead of turning previous resistance back into support, every bounce was sold into and price rolled over.
Bitcoin has now lost the $59,000-$59,500 support zone that had been acting as a key area of demand.
From our perspective, this weakens the short-term market structure.
The next level we're watching is $59,000.
If buyers can reclaim it quickly, there's still a case for this being a liquidity sweep.
If they can't, we'd expect downside pressure to remain as the market starts looking for support lower down.
For now, Bitcoin remains below major support, and the burden is on the bulls to reclaim it.
$AIN $HEI $BEAT
Bitcoin is still trading below the $59,000 level after repeatedly failing to reclaim the $61,000.
That reclaim was one of the key areas we were watching.
Instead of turning previous resistance back into support, every bounce was sold into and price rolled over.
Bitcoin has now lost the $59,000-$59,500 support zone that had been acting as a key area of demand.
From our perspective, this weakens the short-term market structure.
The next level we're watching is $59,000.
If buyers can reclaim it quickly, there's still a case for this being a liquidity sweep.
If they can't, we'd expect downside pressure to remain as the market starts looking for support lower down.
For now, Bitcoin remains below major support, and the burden is on the bulls to reclaim it.
$AIN $HEI $BEAT