As the title says, BTC PA has fallen back in channel that offers a potential low in the High 80K should confidence fail.
PA also lost support on the Local 2.618 Fib extension.
This is a shame and poses potential problems reclaiming that.
I will say, that I do not consider this a long term Bearish beginning but it could certainly add to the "Calm" Summer I have talked about.
I say "Calm", that does depend on the world not entering a level of Madness.
The Zoomed chart below shows more detail
https://tradingview.sweetlogin.com/x/wELyBGOo/
Here we can see clearly how PA got rejected off that upper trend line, fell through the 2.618 and is currently being rejected by it.
The potential for a further drop does exist and if we repeat the "Pattern" we have since the beginning of 2024, of bounce off Lower trend line, get rejected from Upper zone, re test lower as support and bounce again, we can expect to revisit 89K
This idea is supported from this LINEAR Daily chart
https://tradingview.sweetlogin.com/x/vKITtDzS/
The dashed Trend line that is arrowed has origin in Sep 2024 and was also used again in April 2025.
That intersection the arrow points to is the intersection with the current supporting Fib circle at around 88500 USD
None of this is certain but these levels exist as support.
PA also has the ability to move higher
The Weekly MACD below shows us how MACD is turning down towards its signal line ( red)
We did this before in Jan 2024 ( Arrow) and The MACD bounced.
https://tradingview.sweetlogin.com/x/2Jtkq95q/
We talked about this possibility a few weeks ago But on a Daily MACD, things do look a little different.
The FEB 2024 looked like this, Bullish, rising and above Neutral
https://tradingview.sweetlogin.com/x/nw4hvLWN/
Currently, the Daily MACD looks like this
https://tradingview.sweetlogin.com/x/CAoNM3Rh/
We just fell below Neutral and the Signal line just hit it
We may seea bounce but we need to have the idea that this may continue to drop a little further.
But the White bar on the Histogram shows us some recovery is currently in progress
We will have to watch the rest of this month closely. This time next week is last day of month.
I have mentioned a number of times that a small RED Month candle would be potentialy good.
We are currently Only just GREEN, so a further Drop in price is actually almost expected this week.
Interesting days ahead
Nothing to be taken as Financial advice.
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
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.
Nothing to be taken as Financial advice.
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
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.