📉 Bitcoin's price dips below $60K, sparking investor panic. Is the bull run over or just a healthy correction? 🤔

📊 Daily Chart: A large descending channel pattern since March broke to the downside, with Bitcoin potentially dropping to $52K. The 200-day moving average hovers around $50K, which could be Bitcoin's safety net in case of a deeper decline.

⏰ 4-Hour Chart: Price was rejected from the channel's midline a few days ago, creating lower highs and lows. But, the Relative Strength Index has entered the oversold region, hinting at a possible short-term rebound to $60K before potentially dropping to $52K.

🐳 On-Chain Analysis: The Exchange Whale Ratio shows whales rapidly depositing their coins in exchanges to potentially sell them, contributing to the recent correction. If the whale ratio declines, we might see the correction stop.

Your thoughts? Is this a pause or the end of the bull run? Let's chat below! #Bitcoin #CryptoNews