đšCRITICAL ALERT: URGENT UPDATE ON BITCOINđš
đš âŒïž đš âŒïž đš âŒïž đš âŒïž đš âŒïž đš âŒïž đš âŒïž đš
đš #Bitcoin Decline Imminent đš
đ Let's dive straight into the facts: A Bitcoin downturn is on the horizon. This is a natural market correction, not linked to Mt. Gox. Here's the detailed analysis:
đ Daily Chart Analysis:
- Resistance Alert: Bitcoin is struggling at the mid-range resistance, which aligns with the 0.618 Fibonacci level.
- Dead Cat Bounce? Typically, prices rise to the 0.618 level before a significant drop. For Bitcoin to avoid this pattern, it must solidify $72,000 as strong support.
- EMA Retest Pending: Since Bitcoin broke above the 20 EMA in early June, it hasnât retested this level, indicating a correction is due.
đ 4-Hour Chart Insights:
- Wave Completion: Bitcoin has completed a five-wave pattern and is now in an ABC correction phase.
- Correction Zones: 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.
đŽ Bearish Outlook:
- If $BTC breaks below the July 8 low, the technical target is the 1.272 Fibonacci level at $51,450.
- A deeper retracement could see Bitcoin reaching the 1.618 Fibonacci level at $48,054.
đŹ Stay Informed: Keep an eye on these levels and stay vigilant. For those keen to master technical analysis, drop a DM or comment below, and let's connect.
đ Stay safe and informed.
†Your generous tips help us provide top-tier investment advice! â€
#Write2Earn! #BullBanter #BinanceTurns7 #BinanceTournament $BTC