Yesterday, BTC dropped around 5% from its freshly printed intraday ATH, reaching a low of 117,300. Should bulls be worried?
In my view, this drop can’t be seen as more than just a correction — while it was indeed quite deep, the overall structure remains fully intact.
Price is still comfortably above the ascending trendline that started in April, and even higher than the nearest horizontal support.
Bottom line: As long as BTC stays above the 110–112k zone, there’s no real reason for concern.
For short-term traders, this dip could even be seen as a buying opportunity — anticipating a push towards a new ATH above 125k. 🚀
In my view, this drop can’t be seen as more than just a correction — while it was indeed quite deep, the overall structure remains fully intact.
Price is still comfortably above the ascending trendline that started in April, and even higher than the nearest horizontal support.
Bottom line: As long as BTC stays above the 110–112k zone, there’s no real reason for concern.
For short-term traders, this dip could even be seen as a buying opportunity — anticipating a push towards a new ATH above 125k. 🚀
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.