📉 BTC/USDT – Is a Bigger Drop Coming?
Bitcoin is showing signs of weakness after forming a Rounded Top pattern on the daily chart. This structure often signals a distribution phase, leading to a potential breakdown.
🔍 Key Observations:
✅ BTC attempted to hold above $98,000, but the selling pressure increased.
✅ The Rounded Top pattern suggests a gradual loss of bullish momentum.
✅ Support Trendline (Blue Line): Holding around $97,300, a crucial level.
⚠️ Possible Scenarios:
📉 Scenario 1 – Bearish Breakdown:
🔻 If BTC drops below $96,500, we could see a sharp decline towards $92,500 - $89,500.
🔻 Increased selling volume will confirm further downside.
📈 Scenario 2 – Bullish Rebound:
🚀 BTC finds support above $97,300 - $97,500, leading to a push towards $98,800 - $100,500.
🚀 Watch for a strong bullish candle and volume confirmation.
🔸 RSI & MACD Indicators:
👉 RSI is below 50, indicating mid-range bearish momentum.
👉 MACD is showing early signs of a bullish crossover, hinting at a possible short-term bounce.
💎 Conclusion:
If BTC holds the support trendline, we may see a temporary relief bounce. However, a break below $96,500 could trigger a significant sell-off. Keep an eye on whale manipulations, as they might dictate the next move!
📊 Trade wisely & wait for confirmation before entering positions!
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