$BTC has broken down from the rising channel and is now sitting on a major confluence zone: weekly FVG and 200-week EMA around 65K. This is a critical demand area.


Key levels
Support: 60K – 66.5K
Invalidation: weekly close below 66.5K
Recent weekly candles show aggressive sell-side expansion into long-term support. The latest candle is sitting on the 200-WEMA, suggesting selling pressure is slowing.
A breakdown below 66K would open the door to the next weekly FVG at 43K–48K.
Bias
This looks like a higher-timeframe correction, not a bear market.
Smart money typically accumulates in this zone.
If you find this helpful, follow me and please hit the like button.
Do share your views in the comments.
Thank you
PEACE
#CryptoMarket
BTC-1,2%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)