$BTC - Price update:
On my last macro TF analysis, I called for a short term bullish reaction before another low! ✅
🔷Here we are: 📉
I warned you around the 70 000$ zone that that the price of #bitcoin was going to fall because we were in an overbought zone!
What's more, this retracement zone corresponded to the daily bearish retest of the 50% fiber!
🔷The current price seems to be moving into the blue bearish channel and looks set to retest the lower daily uptrend❗️
🔴As long as the downward trend pushes prices down, BTC will fall! [blue one]!
🔴Bearish breakout H4❗️
🔴Sell alert Daily --> The lagging span will probably test the SSB level❗️
🎯Important supports to watch on:
-58 000$ zone
-57 000$ zone (H4 support)
-56 100$ - 56 000$ 👇
this support zone will be a very strong one.
It correspond to the flat Tenkan weekly & potential D1 uptrend retest ❗️
🔶In any case, my previous medium- to long-term analysis remains valid✅
As long as there's no daily close above $67,500, I think we'll see a stronger correction! 📉
Zooming in on the monthly chart, the BTC price could correct towards $49,000 - $50,000.
This potentially corresponds to the bottom of the downward correction before a new rise! 📈👀?
The next few days will probably be red for #Bitcoin❗️
