The crypto market is at the limit of emotions! 🔥 The price of Bitcoin is frozen around $95,000, and traders are wondering: is this just the beginning of a rise or a path to a deep correction? Let's analyze the situation and determine how to act at this crucial moment. 💸
🔥 What is happening with Bitcoin?
👉 The price could not hold above $98,000. Attempts to break the resistance level of $98,000–$99,000 ended in failure. Bulls are losing control. 🐂📉
👉 A decline in open interest. Over the week, OI decreased by 9% — from $64 billion to $58 billion. Nevertheless, the market remains overloaded with leveraged positions, which could trigger a sharp downward movement. 📊
👉 Technical signal: “double top”. If Bitcoin falls below $95,000, it is likely we will see a drop to $92,000 or even $90,000.
💡 What do experts say?
🔹 Byzantine General suggests that Bitcoin may test the $85,000 level as early as December, but such declines will be short-lived. 🕒
🔹 DonAlt predicts: a hold above $98,000 will open the way to $110,000 🚀, but losing the $90,000 level could send the price down to $80,000. ⚠️
📉 Technical signals to pay attention to
💥 The Relative Strength Index (RSI) has fallen below 50, indicating increasing selling pressure.
💥 Support at $90,800 may not hold if bearish sentiment continues to strengthen. 🐻
✅ What should traders do?
✔️ Plan your risks. Set stop losses and be prepared for sharp price movements. 📉
✔️ Monitor key levels. A breakout of $98,000 is a signal for growth, while a close below $95,000 is a worrying sign of continued decline. 🔎
✔️ Pay attention to liquidity. The $85,000 level could become a turning point if the price continues to decline. 🔄
Bitcoin is at a critical stage now! 🚦 Prepare for any scenario and remember: proper risk management is your best ally in the world of cryptocurrencies. Good luck and big profits! 💰✨$BTC
