This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
First weekly Low on $BTC after 22 months
GM,
Since January 2024, Bitcoin has been printing this weekly Higher Highs and Higher Lows sequence.
Yesterday we had the first new weekly low, invalidating the previous potential Higher Low at the 92k area.
As long as the 92k area holds as weekly resistance, 80k and extended to 74/76k are the next potential targets.
Don't know if it's the beginning of a bear market by old standards, I'm just bearish on the weekly chart for the first time in a long while.
If/when something changes in the weekly structure I will do my best to adapt. Until then, I'm bearish.