▪️ Market context

#BTC's previous price drop took place within 28 days, from the peak of $72,140 to the $53.3xx area, including a 9-day accumulation period in the $60k-$63k area.

Will history repeat itself this time, after accumulating, breaking support and going down?

📊 Technical Analysis

▪️BTC/USDT Timeframe D1

The price decline has stalled when reaching the old support zone + the psychological support threshold of 60k.

Volume tends to decrease, most likely ending today#BTChas formed a price compression model inside the price action, reflecting the current market psychology. After a period of strong fluctuations, the price will tend to compress the accumulated price to continue the trend or reverse.

In the previous decline,#BTCtook 9 days from June 24 to July 9 to accumulate before losing about 10% more value to reach the $53,300 area. If this time after accumulation,#BTCcan reverse. Can you pump it to 70k?

#BTC's wave structure remains unchanged, wide amplitude sideways at the top.

▪️BTC/USDT Timeframe H4

In the short term#BTCis running in the Bearish Channel, so we can make the following recommendations for Futures players:

Plan Long: Long when breaking out of the down channel, sl below 60K support

Plan Short: Short at resistances $62.1xx and $63.2xx

When#BTCsideway is above $60k, Altcoin will fly another beat. At this level, in my personal opinion, do not focus on platform coins, top coins, Layer 0, Layer 1 because large capitalization is difficult to push, instead holder checks coin midcap, low cap, catching a small wave is not too difficult.

Note that stop loss should be set in all cases.#BTCthis time breakdownc $60k then $53.xxx is not a strong Demand Zone. Be careful!

▪️Milestones to pay attention to: 60000 - 62500 - 63300 - 65500

* The above is purely personal opinion, not investment advice!
#Vietnamcryptotrading