Crypto Aristocrats🗽

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#BTC formed the double top pattern inside the resistance area and dropping. Nothing much happening just broken minor support area, so just a minor pullback happening and can dump with this weekend.

As BTC prices sold off down into the $60k region, a degree of fear and bearish sentiment could be discerned amongst many digital asset investors. This is not uncommon when market volatility stagnates and goes to sleep, as apathy creeps in. Nevertheless, from the lens of MVRV Ratio, aggregate investor profitability remains remarkably robust, with the average coin still holding a 2x profit multiple. This is a level that often delineates the 'Enthusiastic' and the 'Euphoric' bull market phases.

#BTC weekly closing did a a good bearish closing and retraced all the way back to the drawn resistance area and dumped again. The zones were strong and and price respecting the market structure. Price again nearly to its now and might gonna make a new lower low again.

Fear & Greed Index also slowly turning to more fear, the lowest it has been since October 2023.

#BTC gone our way and dropped hard back to $60,000 and even surpasses below, by which printed a new lower low. Another liquidity grab happened and might push to the upside now but not a reversal.

Already said, its at a resistance and price dumped hard back to $61,000 and below. Well, now conditions are again same for us, so looking a for a support now so we need so see a drop below the $60,000 towards the support area.

📈 Meanwhile, June was closed red in -6.96% loss. Not that huge, but still. However, if we take a look at the history, it was always a green July after a red June, 5 out of 5 cases.

#BTC didn't moved alot after the update and moved very little. Price Already on a structural resistance area, which is creating sort of sell wall. This week market have a ton of news, which can drive the market crazy. Its better trade with breakout and a flip above resistance area around $65,000 will be healthy for the market.