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Bitcoin ($BTC ) just gave everyone a massive reality check.
That huge red candle wasn't just a dip, it was a total liquidation hunt. We’ve been sliding since the $68k rejection and now we’re struggling to hold the $64k level.
Looking at the order book, the sell pressure is still sitting heavy at $64.5k. Volume is decent but it’s mostly sellers pushing the pace right now. If we don’t reclaim the $65.5k zone soon, we might be looking at a deeper test of the $63.8k support.
I’m watching the RSI closely because we’re getting near oversold on the 1h, but catching a falling knife is risky. I'd rather see a solid double bottom or some sideways consolidation before even thinking about a long.
Stay patient. The market doesn't owe you a trade today.
#GateSquare$50KRedPacketGiveaway