3 Reasons Why Bitcoin Will Bounce at the Current Level 🚀
$BTC has been in a moderate downtrend lately, causing a massive shift in crypto sentiment. Social media is flooded with doomsday predictions of a massive dump. But here's why a bounce is more likely:
1️⃣ Bull Flag Support:
The upper boundary of the bull flag has acted as a reliable support line. Just two days ago, Bitcoin bounced off this support again. Plus, there's an even stronger support line around ~62.5. Even if the bull flag support breaks, expect a bounce from this lower support.
2️⃣ Oversold Market:
The entire market is extremely oversold and primed for a turnaround. This is evident across many altcoins. With the market so oversold, a bounce becomes more likely each day.
3️⃣ Decreasing Volume:
BTC trade volume has been steadily decreasing during this downtrend. This indicates fading sell pressure and suggests a massive volume spike is on the horizon.
Caution: If the 62k level breaks, it invalidates these arguments and signals a bearish continuation.
---
For more trade strategies, visit @Square-Creator-81f0b8b92
