CAUTION! $BTC Probably just fell off a cliff, only hope for a reversal is $62.3k support, which is weak. Overall, BTC looks very BEARISH.

Actually, I was expecting BTC to dump yesterday morning as the market opened, instead, it pushed higher with good volume, which turned out to be fake volume, and ALTs tried to follow up. We did see a bit of a push up yesterday, until $BTC crossed $65k and started falling, up until now.

I looked at the 1H chart and discovered that BTC met a resistance at $64.8k, crossed it to touch the trendline resistance at $65.5k, but couldn’t sustain the momentum, so it fell below it, and also broke the $63.5K trendline support. As it stands, $BTC might just be heading for $62.3k; if that doesn’t hold, then the psychological sub-60k sweep might be the play here.

As for ALTs, they’re already bleeding badly as always. The majority of retail traders have been bearish on ALTs and would keep selling. This week was supposed to be a recovery week for crypto, but it might just end up being another crash week.

If you ask for my view on whether $BTC would actually fall below $60k, I’d say that I think MMs and whales would front-run that price to leave many retail traders stranded and forced to FOMO at the top, then they’d crash the price in capitulation.