Peter Smith
⬤ Bitcoin's pulling back from recent peaks and heading straight into an important support zone that's been getting attention on the weekly timeframe. We're talking about the $71,000–$68,000 range—a level that matters for anyone watching BTC's next move. The focus here isn't about guessing where the bottom hits, but waiting to see if the price actually holds when it gets there.
⬤ The chart shows BTC trading below what used to be resistance around the mid-$70,000s after its latest rally couldn't keep going. That $71,000–$68,000 band lines up nicely with a solid support level on the weekly chart, sitting just below previous contested territory and above longer-term support structure. It's the kind of spot where you want to watch what actually happens instead of jumping in too early.
⬤ What we're seeing now is Bitcoin shifting gears from strong upward momentum into correction mode. Instead of pushing higher, BTC's entered a pullback that's bringing the bigger picture back into view rather than just day-to-day swings. The play here is simple: wait for confirmation of how price reacts in that support zone before making any calls about what comes next.
⬤ This matters because Bitcoin's approaching a level that could shape where the broader crypto market heads from here. How BTC responds around $71,000–$68,000 will help answer whether this is just a breather in a bigger uptrend or something that goes deeper. Until we get that confirmation, the smart move is staying patient and watching the higher timeframe instead of making early bets on direction.
Peter Smith
