Bitcoin has officially lost its main weekly support at 64,000 and has settled on a shaky weekly support at 62,300. After a long time, it touched the resistance of 60,500, quickly returning to 61,000. This suggests a potential monthly correction, where Bitcoin may gradually move toward monthly support, find support there, and then witness an upward return, potentially reaching a new all-time high.
Importantly, the Smart Money indicator is now at 95%, indicating a suitable buying position. The last time this indicator was at this level was when Bitcoin was in the 15-16 thousand range, which preceded a tremendous growth to above 70,000.
Current support: 60,500
Current resistance: 64,600
