BTC/USDT Outlook: Up Only from Here, or Is More Patience Needed?

I have been watching from the sidelines for the past week. The market is very unclear at this moment. On the monthly timeframe, it looks very bearish as we broke below 60K. It's possible this month could mark the start of a bear market for several months. However, it's not confirmed yet, as we still have 25 days before this monthly candle closes.

On the daily timeframe, BTC is still holding above an important level and showing the possibility of reclaiming $60,000 again to maintain our bullish view for the upcoming months. Q4 is usually very bullish for crypto, especially in an election year.

Sometimes, doing nothing is the best thing to do. Patience is a virtue. I'll wait for BTC to reclaim above $60,500 or drop more and provide confirmation before entering back into BTC.