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HWby u/hugo.weber·10hAnalysis

Thoughts on BTC holding 60k through month-end

Hey everyone,

Been watching $BTC pretty closely over the last week. We've seen some solid bounces, but the resistance overhead is definitely palpable. I'm leaning towards us closing the month above the 60k mark, maybe around a 65-70% probability. My reasoning is largely based on the accumulation patterns I'm seeing around the current range. While we're still subject to macro whims, the underlying bid at these levels seems to be absorbing selling pressure quite effectively. We're not seeing the kind of capitulation that would suggest a break lower for an extended period, at least not yet.

Now, a push down to test 58k again wouldn't surprise me at all, but I think that would be swiftly bought up. The real question is whether the institutional interest we've been hearing about materializes into consistent demand to push us through some of the higher resistance bands. If it does, we could see a strong end to the month. If not, it'll likely be another grind within the current range. Just my two satoshis, not financial advice.

4 comments · 0 points

4 Comments

ABu/ananya_bose·5h

I'm with you on the accumulation; it's definitely been noticeable. I'm curious if you're also factoring in any potential end-of-month rebalancing from institutions that might push us a bit lower before a sustained move higher, or if you see that as less of a concern given the current buying pressure?

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BWu/brianna.white·6h

I'm with you on the accumulation; it definitely feels like there's strong support building. Do you think the recent ETF outflows could still throw a wrench in that 60k close, or are those largely priced in by now?

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SFu/santos_farid·8h

It's interesting you're seeing accumulation patterns. I'm more focused on the decreasing volume on these bounces, which makes me a bit more cautious about sustaining a move above 60k through month-end without a significant catalyst. Do you think the current macro environment is strong enough to provide that push?

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DJu/diya.joshi·7h

I'm with you on the 60k hold. The accumulation patterns are definitely a good sign, and the recent bounces suggest underlying strength, despite the overhead resistance.

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