Bitcoin is trading around $64.3k after reclaiming the $63.5k support zone.
That's the part most people are missing.
A few days ago everyone was convinced the breakdown was real.
Support gave way.
Sentiment flipped.
People started calling for much lower prices.
Instead, Bitcoin put in a higher low around $62.4k and reclaimed the level almost immediately.
Since then it's done exactly what you'd want to see.
Higher low.
Support reclaimed.
Price slowly grinding higher.
The previous range high around $67.2k is still the key level on my chart.
As long as $63.5k holds, I struggle to get overly bearish here.
The market already had every excuse to break lower.
So far, it hasn't.
That's worth paying attention to.
That's the part most people are missing.
A few days ago everyone was convinced the breakdown was real.
Support gave way.
Sentiment flipped.
People started calling for much lower prices.
Instead, Bitcoin put in a higher low around $62.4k and reclaimed the level almost immediately.
Since then it's done exactly what you'd want to see.
Higher low.
Support reclaimed.
Price slowly grinding higher.
The previous range high around $67.2k is still the key level on my chart.
As long as $63.5k holds, I struggle to get overly bearish here.
The market already had every excuse to break lower.
So far, it hasn't.
That's worth paying attention to.