Strong support for 4 months!

When type in the word "Bitcoin" on YouTube, most videos are towards the bearish side or some even with a title "Crash", is Bitcoin really crashing?


Fact:  $69,000 to $18700 = Bearish

Fact: $17622 to $18760 (at this moment) = Bullish

While seeing majority of YouTube videos are leaning toward the bearish side of the Bitcoin chart, However, I personally believe Bitcoin chart has been looking AND is looking very healthy to me up to this moment.  

In the monthly chart, we can clearly see $17,500 has been acting as a strong support for not only once, twice, thrice but four times in four consecutive months.    $17.5K Strong Support

Take it further to a 3-month chart, hope I am making this easier to see, even there is a strong selling pressure (in red) and yes there is no doubt about that.  Meanwhile, (the green region) is indicating there is still room for the bulls to jump in and bring Bitcoin back towards or even surpass 30k.   Unless bitcoin from now until October 1st drops below $17,500, it is still consider bullish disregard to the red bar we are looking at now or tomorrow.

Buy VS. Sell

To sum up the facts are shown in both charts, I certainly would not jump to a conclusion that Bitcoin is crashing, at least this is not the right time to think bearish yet.  I believe Bitcoin is likely to rebound to the 30k region unless it drops below $17500 from now until Oct 1st.    However, keep in mind the rebound does not mean the drop is over, but one goal at a time otherwise it can be very confusing.  

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Crypto by Targets
Crypto by Targets

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Bitcoin 2026: 4 Major Developments to Watch
Bitcoin 2026: 4 Major Developments to Watch

1. Post-Halving Results In By 2026, the effects of the 2024 Bitcoin halving will be clear. The market will show if the historic "bull run" pattern still holds true for the larger, more mature asset. 2. Real-World Use Cases Arrive This is the year Bitcoin’s Layer-2 solutions, like the Lightning Network, face their real-world test. Will we finally be able to use Bitcoin for everyday transactions easily and cheaply? 3. Regulations Become Real The regulatory landsca

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