Bitcoin Weekend Update
Hello everyone, I have conducted a technical analysis of Bitcoin price movements based on the 15-minute time frame. From my observations, it appears that buyers are currently in control of the market as the price has been hovering around $28k. However, if the price continues to dip down, it could mean that sellers are taking charge of the market. I believe that selling out may begin once the price reaches $40k and above.
Based on my analysis, there is a 60% chance that the price will exceed $38k in the near future. From there, it could quickly reach the $40k mark due to the presence of massive buyers in the market.
However, it's worth noting that once the price hits $40k, it could lead to a drop as it has been established earlier this year that prices tend to drop at this level. Many large investors (whales) may decide to exit and withdraw their profits, which would trigger more sellers to take control of the market. This could result in a temporary halt to the upward price movement.
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