Bitcoin Analysis : Bullish Pullback Before Further Sell-Off
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On the **weekly timeframe**, Bitcoin shows signs of trend correction with a potential reversal between **$59,542 - $55,860**. Upward liquidity could drive the price to **$76,000**, while limited liquidity poses risks down to **$34,000**.
In the **4H timeframe**, there's **buy-side liquidity domination**, as reflected on **coinglass.com**, with a bounce in the **SMA 50 BB**. The **SMA 100** is expected to act as resistance at **$63,438**, while the **MFI** recovers but hasnât dropped significantly, signaling further potential selling pressure.
On the **1H timeframe**, a **bullish divergence** in RSI and **Blue Wave (EMA CCI)** was seen yesterday, hinting at temporary upward momentum.
Conclusion :
Bitcoin's price is expected to face a bullish pullback before resuming its downward trend due to continued buyer resistance.
Advice for Investors :
Prepare for a short-term pullback, but be cautious of further selling opportunities. Consider tightening stop-loss levels and monitor resistance points closely.
