📉 Bitcoin Struggles
After trying to rebound, Bitcoin (BTC) fell below $61,000, down 1.5%. Analyst Willy Woo suggests the recent pump is temporary, with bears still dominating.
🐻 Bearish Pressure
Woo notes that although recent corrections cleared excess leverage, speculative trades still linger. He believes the current bounce to $58,000 is temporary and purely technical, not fundamental.
📈 Technical Rebound
Woo highlights a TD9 reversal and hidden bullish divergence. He emphasizes that the rebound is correcting overselling, not indicating a fundamental shift in demand.
🔍 Fundamental Price Structure
For a true bullish trend, demand must outstrip supply. Spot buyers are purchasing, but synthetic coins aren't being replaced. Miners need to stop selling for hardware upgrades, indicating a recovery.
⏳ Wait for Stability
Woo advises patience, suggesting a few more weeks of dull BTC price action. He urges speculators to exit and recommends accumulating spot holdings as the best strategy.