Bitcoin Alert⚠️Bitcoin Faces Critical Resistance🚨 – What Happens Next Could Be Huge! A Possible Bull Trap or Path to New Highs? ⚠️
🚨Bitcoin is currently facing a pivotal moment as it approaches a key resistance level of around $61,000. The attached chart highlights the critical areas where price action could dictate the next major move for BTC.
💥Over the past few days, Bitcoin has tested the resistance zone multiple times, struggling to maintain levels above $61,000. This behavior could indicate the formation of a bullish trap,⚠️ where initial price spikes lure in buyers, only for the market to reverse and trap those late entrants.
👉One key factor influencing this situation is the participation of short-term buyers. On-chain metrics suggest that short-term holders are not entering the market in significant numbers. Instead, long-term holders (LTHs) continue to dominate, typically buying dips rather than chasing momentum. This lack of short-term buyer participation could weigh on the market, leading to a potential retracement if the price fails to break through the resistance zone convincingly.
🔻If Bitcoin fails to sustain its current levels and begins to decline, the $55,000 to $56,000 range could serve as a critical support area where a new wave of buyers might emerge. A breakdown below this support level, however, could lead to further declines🔻, potentially setting new lows.
🚨🚨 The US dollar, which has been under pressure recently, might see a reversal as bond traders have placed substantial leveraged bets ahead of the Federal Reserve's September meeting. A stronger dollar could exert downward pressure on both Bitcoin and stock markets, exacerbating any potential decline in BTC.
✅ NOTE: Follow for more to get free VIP Signals, Chart Analysis 🚨, and update news. This way, you won’t miss any signals or opportunities! 💰💰
Special Request:👉 I would also be deeply honored if you could visit my Binance Square profile and cast your vote for me. Your vote is not just a number; it’s a sign of your trust and encouragement, which inspires me to continue sharing quality insights.
#BTCBigAlert #bigDumpComing #HighAlert #BullTrap #BullTrapincoming $BTC
