Most traders are watching the double bottom. The market is still respecting the downtrend.
$BTC has bounced twice near $58.9K, but buyers haven’t taken back the key resistance around $60.9K to $62.5K. Until that changes, the chart is still making lower highs and lower lows.
The biggest volume came during the sharp sell-off, but the recovery happened on much lighter volume. That usually means sellers were more aggressive than buyers, even after the bounce.
Momentum also remains weak. RSI is below 50 and price is still trading under the major moving averages. A stronger recovery needs buyers to reclaim those levels first.
A bounce without strength is just a pause, not a trend change.
#Bitcoin #BTC #Crypto #OnChain #MarketStructure
$BTC has bounced twice near $58.9K, but buyers haven’t taken back the key resistance around $60.9K to $62.5K. Until that changes, the chart is still making lower highs and lower lows.
The biggest volume came during the sharp sell-off, but the recovery happened on much lighter volume. That usually means sellers were more aggressive than buyers, even after the bounce.
Momentum also remains weak. RSI is below 50 and price is still trading under the major moving averages. A stronger recovery needs buyers to reclaim those levels first.
A bounce without strength is just a pause, not a trend change.
#Bitcoin #BTC #Crypto #OnChain #MarketStructure