Alert:

Bitcoin has experienced a significant drop from $64,000 to $62,000, indicating a potential crash to $54,000.

Despite bullish expectations, the recent trend suggests otherwise. Here's why:

1. Bitcoin is currently overbought on the weekly RSI, signaling a necessary correction before any substantial pump to $80,000 can occur.

2. Recent price action broke a daily trend line at $67,000 and has been declining since.

3. There's a fair value gap at $54,000 that the market is likely to fill sooner rather than later

.

4. Failure to close above the 2021 high of

$66,000 on the weekly candle indicates bearish sentiment, further supporting the potential for a crash.

Bitcoin is currently holding onto support at $61,800, but if it falls to $60,000, a crash to $54,000 becomes more likely due to weakened support. Prepare for a crash and consider buying the dip, but always conduct your own research. #BullorBear #BTC #bitcoin #dump