The weekly candle this week is more interesting than it looks at first glance.

Price wicked down to $0.75, tagged the lower Bollinger Band at $0.78, and is now trading back above it at $0.81. RSI dropped into the high 30s but hasn't reached oversold. That kind of wick rejection at a support level after weeks of selling is worth paying attention to.

Is it confirmed? No. But the bearish momentum that's been grinding price down for months looks like it's at least pausing here. The bigger question for me isn't NEXO specifically. It's BTC.

Right now everything in alts depends on whether BTC can reclaim and hold $65K. If it does, history says we get a rotation into the local range highs and alts come along for the ride. If it fails and accepts back below, the pressure on alts continues regardless of individual setups.

We're also 8 months into this drawdown. Historically BTC bear markets run around 12 months. Not saying the clock guarantees anything, but the risk/reward of giving up this deep into a cycle has rarely played out well.

I've been adding small through Nexo here for some other major alts like Hype, ZEC. Not going heavy until BTC gives a clearer signal but the setup is quietly becoming more interesting.  
  
Is anyone else waiting on BTC's 65K reclaim before touching alts or already positioning?

$NEXO wicked below support and bounced. Now the real question is whether BTC cooperates.