Impending
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#BTCš„š„š„š„
When I mentioned BTC's bearish trend, some individuals responded to my post with insults and criticism.
#Impending downturn#
Following the BTC halving, the anticipated decline in price is unfolding as expected. This serves as a lesson for some observers. Despite expectations for a surge in price post-halving, BTC has maintained levels around $67k, indicating the incorporation of all relevant factors into its current price. However, with the price hovering around $64k, the weakening bullish sentiment is evident. A correction is necessary for sustained growth, and this correction requires catalysts. These catalysts could be long positions initiated at $65k - $70k, allowing controllers to secure profits. Furthermore, a significant number of liquidations have accumulated in the $70k - $72k range, suggesting a potential rapid decline to $55.5k. There's even a chance that bulls might not muster enough strength to reach $65k, resulting in a decline from current levels. It's clear that we're entering a downturn, and this descent may not conclude as swiftly as anticipated. This is not financial advice; please conduct your own research. It reflects my personal opinion.
When I mentioned BTC's bearish trend, some individuals responded to my post with insults and criticism.
#Impending downturn#
Following the BTC halving, the anticipated decline in price is unfolding as expected. This serves as a lesson for some observers. Despite expectations for a surge in price post-halving, BTC has maintained levels around $67k, indicating the incorporation of all relevant factors into its current price. However, with the price hovering around $64k, the weakening bullish sentiment is evident. A correction is necessary for sustained growth, and this correction requires catalysts. These catalysts could be long positions initiated at $65k - $70k, allowing controllers to secure profits. Furthermore, a significant number of liquidations have accumulated in the $70k - $72k range, suggesting a potential rapid decline to $55.5k. There's even a chance that bulls might not muster enough strength to reach $65k, resulting in a decline from current levels. It's clear that we're entering a downturn, and this descent may not conclude as swiftly as anticipated. This is not financial advice; please conduct your own research. It reflects my personal opinion.