Bitcoin has recently broken the downtrend and is moving strongly lower. A strong bearish day yesterday confirmed a strong higher low. A lower high can lead to a lower low. Let’s dive into this chart and see where the price is headed.
Will Bitcoin move to $95K, $90K or is the crash set to continue to $40K?
The January 7 crash resulted in the highest volume (i.e. bearish/red) since December 5. And here we have the beginning of the bad news.
On the 4-hour time frame, we can see that bearish volume is also prevailing for more than a month.
There was hope, yesterday, some hope, but that hope is being erased by reality. The truth is that there was no rebound the next day, today. Since the declines on January 7 were so violent and confirm a lower high, a lower low is possible next time.
This is the chart in simple words as it stands now.
Nothing can confirm or guarantee that Bitcoin will surpass 92 or 90k. So far, the movement we are seeing simply indicates a retest of support.
There is still a chance that this move will end up as a higher high. If that happens, the bulls will win and it has happened before; think long term. On the other hand, if Bitcoin continues to fall, prepare for a crash, but Bitcoin is unlikely to reach 40k. That’s the point. A recovery will happen in a few days.
Stay calm, reassured and collected.
This is a buying opportunity. The last one before the big bull market in 2025.
Thank you for reading.
You are welcome.
Note🚨🚨
Bitcoin’s sideways trading range continues between $90,000 and $100,000. Market conditions will remain the same as long as $90,000 doesn’t suffer any damage on the weekly timeframe. If it breaks, look for $80,000 monthly as the next support.
Note🚨🚨
It is indeed moving down but when it is all said and done this will probably end up as a false positive. Hold on. 1 BTC = 1 BTC. No worries, stay calm.
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