Is BTC still BEARISH?

Is BTC still BEARISH?

Hello to all my friends. From my last update, I shared about BTC will still crash and once again we are right. So BTC is trading at 56-57K currently. In this point, many will see BTC is going to recover or it’s the dip.

Let’s go back to the chart and read what’s gonna happen now. In 12H chart and also Day chart, it’s bearish with no doubt. Hence, I’m wondering why market is seeing bullish or even a recover from BTC. There’s no doubt with BTC is still going to crash down again. But the point is, where’s the resistance and support for BTC?

From my very own analysis, BTC having resistance around 58-58.5K and support around 55.5-56K. That’s why BTC crash down to 54K and soon bounce back up to 57K now. In this case, we know that if BTC can’t stand above 59K this week soon or later, it will continue to crash down and back to 50K zone. There will be around 10% drop.

What we have to do and take care is setting a SHORT trade around 58.5-59K. Then wait patiently until BTC back to 50K area. Why I said so, it’s because we have to know that the average price that whales holding BTC is around 32K. So, there’s still a huge gap that can be manipulated by the whales.

Last but not least, there’s a photo showed below you may click in. Everyone is welcome 🤗

If you agree with my analysis, don’t forget to follow, like and share my post. Thanks for your support and all the best in 2024. Peace and love ❤️