#BTC #BITCOIN UPDATE

BTC Alert 🚨, Significant Development 😱. Unfortunately, it appears we've hit a local peak at $74k and have already experienced a 23% decline.

Yesterday's closing wasn't favorable. I'll refrain from buying or taking a long position until we test the $52k region, a critical support zone for BTC. Historically, 30% pullbacks are typical in bull markets, potentially landing us at $52k, coinciding with the 1-day EMA200.

However, there's anticipation of buying between $51k - $52k, and typically, we either anticipate this level or surpass it in a downturn. So, what's the strategy? Where to place bids?

Personally, I'd opt to observe and assess the situation. If the downward trend continues, I foresee a dip to $48k, aimed at shaking out the $52k buyers, which presents an opportunity to start acquiring coins.

The optimal range would be $48k to $52k. Conversely, if we avoid a significant decline, I'll consider entering long positions upon a reclamation of the 4-hour EMA200. Additionally, this could serve as a cue to start investing in altcoins using BTC as a benchmark.