Bitcoin has now dropped to the $61,000 support level.
The weekly chart has clearly taken a downturn. If a bounce occurs, it might be the right time to sell and step aside.
It would indeed be disappointing if this were the end of Bitcoin, potentially leaving us without a significant rebound for years. However, the sense that the bull market hasn’t arrived yet remains strong.
Any rebound that occurs could be shorter than expected.
For those who have purchased altcoins, it might be wise to exchange them back into Bitcoin. It seems appropriate to step out of this wave and wait for the next one.
The ideal timing to exit might be when Bitcoin recovers close to the $70,000 mark.
A bit of patience is required now, to endure and observe.
While the support line is currently holding, the trend is still downwards. If a rebound does take place, I would recommend selling and taking a break.
