🚨Alarming NEWS : URGENT UPDATE ON BITCOIN🚨

🚨Bitcoin Decline Imminent🚨$BTC :USDT Day + Hour analysis 😳😳😳😳

A Bitcoin decline is imminent. This downturn isn't due to Mt. Gox but is a natural correction because the market is overbought on the daily chart.

Daily Chart Analysis:

Bitcoin is facing resistance at the mid-range, aligning with the 0.618 Fibonacci level. This situation typically leads to a “dead cat bounce,” where prices temporarily rise to the 0.618 level before falling again. To avoid this pattern, Bitcoin must establish the $72,000 level as strong support. Additionally, Bitcoin has not retested the 20 EMA since surpassing it in early June, indicating a retest is likely.

4-Hour Chart Insights:

Bitcoin has completed a five-wave pattern on the 4-hour chart and is now entering an ABC correction phase. The C wave is expected to bottom between the 0.618 and 0.5 Fibonacci zones, aligning with the anticipated 20 EMA retest on the daily chart. The expected ABC correction pattern is highlighted in yellow on the chart.

Bearish Outlook:

If Bitcoin breaks below the July 8 low, the technical target is the 1.272 Fibonacci level at $51,450. A deeper retracement could bring Bitcoin down to the 1.618 Fibonacci level at $48,054.

Thank you for reading. Stay vigilant and informed. If you’re interested in mastering technical analysis, feel free to DM or comment, and I’ll get in touch.

Stay safe and informed.

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