It is clear that at the moment, there is a significant sell-off of Bitcoin occurring, leading to a decrease in price. As I mentioned in a previous post last week, if the price falls below 40k, we may see a further decline to 35k before 2024. Currently, there are more sellers than buyers in the market, resulting in a gradual loss of support for the price of Bitcoin from the $42k zone, which was previously seen as a strong support level. This chart indicates a weakness in the crypto market, and the price of Bitcoin will likely drop by more than 20% before any significant bullish movement is observed. I will be closely monitoring the situation at the $41k zone, and once there is a breakout, whether bullish or bearish, I will update you all. Make sure to follow this page for regular price movement updates or visit our channel @xcostrade for more information.
At the moment, I anticipate a 20% drop in price at this zone, and after that, there may be a weak bullish trend. The market is currently dominated by sellers, and the price is expected to decrease further. If you found this content valuable, please give us a thumbs up and leave a comment. Thank you.
