October Crisis : Bitcoin on the Brink of Dropping to $50K!

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Bitcoin has recently completed a **harmonic pattern** near the **$66,500** level, triggering a potential bearish trend. While there was an initial positive price reaction, this harmonic formation reinforces the likelihood of a downward move.

Historically, Bitcoin has shown significant volatility with both upward and downward movements in similar regions. With past price reactions in mind, traders should be cautious and look for potential **profit-taking opportunities** near the following strong support levels: **$60,760**, **$57,800**, **$55,200**, **$52,600**, and finally **$50,000**.

Conclusion :

The current chart analysis suggests that Bitcoin may be entering a bearish phase, with a significant drop towards **$50K** on the horizon. Traders should prepare for potential dips and closely watch key support zones for strategic exits or entry points.

Advice :

If you're holding Bitcoin, consider profit-taking at strong resistance levels to minimize potential losses. Stay vigilant and monitor the harmonic pattern's influence on price trends. Those planning to enter long positions may find better opportunities at lower levels in the near future.