Bitcoin's recent volatility has the market on edge! After a sharp drop toward the $60K zone, is fighting to hold a critical demand area. Both short-term and long-term signals suggest we are at a major turning point. ⚖️
📊 The Daily Chart: Bearish Structure Remains
On the daily timeframe, Bitcoin continues to trade within a downward channel, characterized by lower highs and lower lows. 📉
Demand Zone: The $60K–$63K area acted as a temporary floor where buyers stepped in. 🛡️
Moving Averages: Price remains pinned below the 100-day and 200-day MAs, which are now acting as heavy dynamic resistance.
The Barrier: The $75K–$80K zone is the ultimate supply wall. Until we break the channel's midline, any bounce is just a "relief rally."
⏱️ 4-Hour Chart: The Squeeze is On!
Zooming in,
$BTC is forming a tightening symmetrical triangle near the $67K–$68K level. 📐
Upside Target: A breakout above the triangle could propel price toward the $74K–$76K resistance. 🚀
Downside Risk: A breakdown below the rising support line could lead to a liquidity grab at $60K or lower. ⚠️
🧠 Sentiment & Leverage Reset
The Estimated Leverage Ratio on Binance has cooled off significantly. 🧊 This "washout" of over-leveraged long positions is actually healthy, as it reduces the risk of a sudden systemic collapse.
Pro Tip: With leverage at lower levels, the next move out of this consolidation will likely be driven by spot demand rather than just liquidations.
🎯 Key Levels to Watch
Major Resistance: $70,000 & $75,000
Crucial Support: $65,000 & $60,000
Bitcoin is sitting at a delicate spot. Will the bulls reclaim the $70K handle, or will the $60K support finally crack? Watch the 4-hour triangle breakout for the next big signal! 🚨
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