Critical Bitcoin weekly trend breaks for first time in 2+ years: Is BTC done?

💡 DMK Insight

Bitcoin’s weekly close below a key moving average is a serious red flag for traders. Breaking a 30-month trend suggests we could be on the brink of new price lows. This shift isn’t just a technical anomaly; it reflects broader market sentiment that’s increasingly bearish. Traders should be wary of potential cascading effects, particularly in altcoins that often follow Bitcoin’s lead. Watch for support levels around previous lows, as a failure to hold could trigger further sell-offs. On the flip side, if Bitcoin manages to reclaim that moving average, it could signal a buying opportunity for those looking to capitalize on a rebound. Keep an eye on volume trends as well; low volume on a downward move could indicate exhaustion, while high volume on a recovery could suggest renewed interest. Overall, the next few weeks will be crucial for setting the tone for the rest of the market.