Market Update for Major Investors: $BTC Monthly Analysis
Bitcoin remains in a overall bullish trend, maintaining its position above the long-term upward trend line, but momentum has noticeably slowed down. The price is currently correcting towards a key support and resistance zone (~74k–78k), which previously acted as resistance and is now being tested as support. The appearance of repeated "Spinning Top" candles near this zone reflects a state of hesitation and balance between buying and selling forces.
As long as the currency stays above the trend line and the mentioned support zone, the technical structure continues to record higher lows. Stability or rebound from these levels will open the way to continue the previous upward trend.
Summary: Cautious optimism, and monitoring this support zone is key.
I am closely watching the monthly close to confirm entry.
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Market Update for Major Investors: $BTC Monthly Analysis
Bitcoin remains in a overall bullish trend, maintaining its position above the long-term upward trend line, but momentum has noticeably slowed down.
The price is currently correcting towards a key support and resistance zone (~74k–78k),
which previously acted as resistance and is now being tested as support. The appearance of repeated "Spinning Top" candles near this zone reflects a state of hesitation and balance between buying and selling forces.
As long as the currency stays above the trend line and the mentioned support zone, the technical structure continues to record higher lows. Stability or rebound from these levels will open the way to continue the previous upward trend.
Summary: Cautious optimism, and monitoring this support zone is key.
I am closely watching the monthly close to confirm entry.