Pivot Point: $71,865
This level is the key zone for $BTC next move.
📉 Bearish View (Main Outlook)
Below $71,865, selling pressure dominates. Possible downside targets:
- Target 1: $66,400
- Target 2: $60,000 (major psychological support)
📈 Bullish View (Correction)
A move above $71,865 signals only a short-term recovery. For a real reversal, price must hold above this level to aim for:
- Resistance 1: $78,690
- Resistance 2: $85,425
Why BTC is Falling
- Miner stress: With BTC under $71,000, many miners face losses. Average production cost is near $87,000, forcing them to sell and add pressure.
- Macro factors: A stronger U.S. Dollar and Fed’s hawkish stance push investors toward safer assets.
- Liquidations: Over $775M in longs wiped out in 24 hours, fueling the drop.
- Fear: The Fear & Greed Index is at 12, showing panic among retail traders. $C98
Summary
Bitcoin sits in a danger zone. $71,865 is the line between recovery and further decline. Until price reclaims it, downside remains the easier path. Manage risk carefully.
Not Financial Advice, Only for Educational information. $FIGHT #WhenWillBTCRebound
