#Bitcoin Managed to Hold the $60,000 Support
Although the #BTC price dipped below the $60,000 support, it closed above $60,000 on the daily chart, meaning this level was not broken. The fact that the closing price remains above the support level is a very positive development, and we will continue to monitor whether the daily closes stay above $60,000 in the coming days.
Price Holding at Support and Whether the Decline is Over
While the price holding at support is a positive sign, we need more confirmations to say that the decline is over. The short-term downtrend resistance has been tested many times but has not been broken yet. To confirm that the decline is over, we also need to see this trend resistance broken.
Whale Activity and Trend Resistance
When the downtrend started, whale activity also turned negative, and it is still in the negative territory. If the downtrend breaks and whale activity simultaneously turns positive, this scenario could present a great opportunity to build new positions in both Bitcoin and altcoins. Therefore, it is worth closely monitoring the downtrend resistance.
What to Expect in the Coming Days
In the coming days, if the downtrend breaks or whale activity turns positive, I will share these developments immediately. Additionally, a current Bitcoin analysis will be published today, where we will take a more detailed look at all the data, including both technical indicators and market dynamics.
Conclusion
$BTC ability to hold the $60,000 support is a positive sign, but to confidently say that the decline is over, we need to see the downtrend resistance broken and whale activity turn positive. We will closely follow these developments and provide timely updates as needed. Wishing everyone a great day and profitable trades.
