Bitcoin crashed to the 57,000s, recovered to the 66,000s, and has spent the past few weeks oscillating between 62,000 and 63,000 while it decides on a direction.
Several separate reasons converge on the same 61,000-62,000 area: the level that gives back about half of the post-crash rebound, the support shelf left by the prior bottom, and the point where selling volume dried up during the decline all meet at one price.
A daily close below 61,800 would put in a lower bottom and break the bullish reading altogether, so the stop sits at 59,700, safely beneath the psychological 60,000 support line.
The full analysis is for members
Analysis by methodology (ICT, Wyckoff, Elliott, divergence, macro, news), invalidation levels, R:R and confidence are in the member report.
