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#BITCOIN is fine, Don't panic!

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Bitcoin continues to trade within a descending channel, with the current weekly candle showing a 7.17% drop, rejecting near the $65,000 resistance level.

The price has entered a Weekly Fair Value Gap (FVG) between $60,000 and $62,500, where we might see some buying support.
(FVG sare levels of liquidity gaps which the MMs eventually take before continuing the uptrend)

Explained more in my previous BTC/USDT Chart

However, a break below the invalidation level at $57,466.09 could lead to further downside towards the channel support.
Bulls need to HOLD the FVG to initiate a bullish breakout.

Invalidation Level:

An invalidation point is marked around $57,466.09. If the price breaks below this level, the bullish scenario becomes invalid, and further downside action is likely to follow.

There's also 200 MA support around the 59.8k level.
This is an important level to keep an eye on!

I think we will see a relief soon!

NOTE:-

Stop panicking! When the market pumps, everyone wants a dip, but when the dip comes, fear takes over. This is often a sign you're taking on more risk than you can afford.

Stay calm and focus on Altcoins, which often bounce hard after corrections. While Crypto Twitter was expecting a green October, the market makers threw in a surprise to start the month.

Expect a few days of downtrend and consolidation, followed by daily green candles.

That’s my view, not financial advice!
Let me know your thoughts in the comment section and do hit the like button sp it reaches more souls who need to read this!

Thank you

#PEACE

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#Bitcoin is currently hovering just above the daily 200EMA.
A close below this level could signal trouble ahead.
On the weekly chart, BTC is trading within the Weekly FVG, with liquidity already taken out.
This upcoming weekly close is going to be crucial.
Dips are opportunities but I am not buying yet!
Stay safe out there!