The bulls are currently holding the key support level of $65,800. Only when Bitcoin decisively breaks through and stands above $67,000, forming a rising wedge pattern again, will market confidence be restored.
- If Bitcoin's price rebounds strongly from the current level, it may advance towards $78,000.
However, if it falls below $65,800, the next major support level will be at ** $60,000 **.
This has now become a personal risk-reward trading strategy. Traders should carefully plan their entry and exit timing.
For long-term investors, ** DCA ** remains a prudent strategy, especially in light of Bitcoin's consecutive six months of red candlestick charts—this is the longest losing streak in years.