I walk through a “live” market read in this episode and explain why I think Bitcoin is broadly following the plan: for weeks price has been holding the key level, and on the monthly timeframe I still expect a green close as part of a relief move. I stress that this does not mean the bear-market bottom is definitely in, because I still keep a lower-target scenario in mind, but the current structure looks better than most people assume. What I like right now is that the tape feels cleaner: less hysteria, more disciplined level-to-level behavior.
On BTC my main reference stays the same: support 65.8k, and as long as weekly closes remain above it, I generally favor the relief-bounce continuation. The next area I want to see tagged is resistance 75.5k, and a further extension I’m willing to consider is target 80k if the market starts breaking through overhead supply with conviction. Upside scenario – hold support and grind up toward 75.5k, and if we confirm above it then 80k becomes viable; downside scenario – losing 65.8k on the weekly context damages the setup and leaves the market vulnerable again.
I don’t cover ETH specifically here — its price action wasn’t mentioned. No ETH support/resistance/target levels were given, and no clear upside/downside branching for ETH was laid out either. It wasn’t mentioned.
To wrap up, I add a few filters that, for me, validate the “health” of the move: open interest is behaving more calmly after the prior spikes, and the lift looks more like spot-driven buying while many participants have lost faith. At the same time I still describe the daily as a chop zone, so I’m prepared for more rotation before the next push. From the external backdrop I note equities have looked better over the last few days, which helps sentiment, and on total crypto market cap I’m watching resistances at 2.74T and 2.97T versus roughly 2.46T now.
Trading cryptocurrency involves substantial risk. This analysis is for educational purposes only and is not financial advice. Past performance does not guarantee future results.
