1 hour ago
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BEARISH 📉 : Bitcoin falls to key levels after liquidity sweep
Bitcoin has moved into a significant demand zone, attracting attention to potential buyer reactions or a market reset.
100-Week SMA as a Bitcoin Accumulation Zone
- The 100-week Simple Moving Average (SMA) is seen as a reliable long-term investment zone for Bitcoin.
- This level historically represents maximum pessimism, favoring patient investors over short-term traders.
- Analyst Brett suggests steady accumulation between $55,000 and $75,000 with daily purchases.
- Buying above the 100-week SMA post-confirmation has yielded strong returns in past cycles.
- BTC has never fallen below the previous cycle's 100-week SMA, underscoring its importance as support.
Market Breakdown and Potential Reaction
- Local lows failed to hold, acting as a magnet for liquidity positioned below.
- Bitcoin is trading within a cluster of bids around the low-$70,000 region, indicating buy-side interest.
- The recent price action required sweeping into deeper demand zones to reach this point.
- The focus shifts to buyer response at this heavy support level to determine future trends.
