I'm watching Bitcoin closely, and while longer time frames look bullish, the 1-hour chart shows signs of weakness. The price has formed a "shoulder" pattern similar to what we saw three weeks ago, when a bearish head and shoulders (H&S) pattern started. The candle structure looks like past patterns, and although the RSI isnât showing overbought levels, the MACD has turned bearish.
The key level to watch is $69,677. If Bitcoin breaks this, it could start a new bull run. For now, itâs important to manage risk and wait for a clear opportunity.
