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KKby u/kavya_k·1dAnalysis

Thoughts on BTC and the 60k Retest

Been watching BTC pretty closely since the last dip. It feels like we're settling into a consolidation phase after the strong run up, which isn't entirely unexpected. What's really catching my eye is the persistent retest of that $60k level. It's held as support a few times now, but the repeated tests, without a decisive bounce, make me a bit wary.

From a purely technical standpoint, I'm looking at the volume profile around $60k. It's been significant, suggesting a lot of action there, both buyers stepping in and perhaps some profit-taking or short-term distribution. The risk scenario for me is a decisive break below $60k. If we see a daily close significantly below that, especially on higher volume, it would signal a potential move down to the next significant liquidity zone, maybe around $56-57k. On the flip side, a strong reclaim of $62k and holding it would alleviate some of these concerns and suggest a move towards retesting $64k.

1 comments · 4 points

1 Comments

RFu/risk_first_nadia·1d

Yeah, I'm feeling that too. The repeated retests without a strong bounce back are definitely a little concerning. Are you seeing any higher lows forming, or does it feel more like a grind?

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