Bitcoin is starting Q3 at one of the most important points of this cycle.
The market is trading around the 59K to 60K zone after a difficult June. Record spot ETF outflows and cautious institutional positioning have kept sentiment weak, but price is now sitting near a major historical support area where long term buyers often begin accumulating.
My view is simple.
As long as $BTC holds this support, panic selling makes little sense. This is where risk to reward starts improving for patient traders.
Trading plan.
Entry. Scale into spot or wait for confirmation above the recent local resistance.
Targets. 63K. 66K. 70K if momentum returns.
Invalidation. A strong daily close below the current support would increase the probability of another liquidity sweep before a meaningful recovery.
What I am watching.
• ETF flows. A shift back to positive inflows could become the biggest catalyst.
• Daily volume. Rising price without volume is not enough.
• Open interest. Healthy spot buying is stronger than leveraged chasing.
• Macro headlines and rate expectations that could affect overall risk assets.
My suggestion.
Do not trade based on emotions after a large drawdown. Let the market confirm strength before increasing risk. If you are a long term investor, gradual accumulation near major support has historically been more effective than chasing green candles.
Patience usually pays better than FOMO.
#Bitcoin
The market is trading around the 59K to 60K zone after a difficult June. Record spot ETF outflows and cautious institutional positioning have kept sentiment weak, but price is now sitting near a major historical support area where long term buyers often begin accumulating.
My view is simple.
As long as $BTC holds this support, panic selling makes little sense. This is where risk to reward starts improving for patient traders.
Trading plan.
Entry. Scale into spot or wait for confirmation above the recent local resistance.
Targets. 63K. 66K. 70K if momentum returns.
Invalidation. A strong daily close below the current support would increase the probability of another liquidity sweep before a meaningful recovery.
What I am watching.
• ETF flows. A shift back to positive inflows could become the biggest catalyst.
• Daily volume. Rising price without volume is not enough.
• Open interest. Healthy spot buying is stronger than leveraged chasing.
• Macro headlines and rate expectations that could affect overall risk assets.
My suggestion.
Do not trade based on emotions after a large drawdown. Let the market confirm strength before increasing risk. If you are a long term investor, gradual accumulation near major support has historically been more effective than chasing green candles.
Patience usually pays better than FOMO.
#Bitcoin