$BTC
đȘ #BTC
âïž The chart paints not the most favorable picture. Bitcoin has broken below the 12-hour Ichimoku Cloud and has established itself there. In fact, further declines are currently only being held by the supports on the daily chart.
âïžThe nearest potential downside level is the mark at 40.5K â this is a key support zone. From here, we may see another bounce upwards, but if we break below 40K, we will continue to fall within the framework of a medium-to-long-term correction.
âïž I am not bearish yet: we have the daily Ichimoku Cloud and the aforementioned support zone. Additionally, it's worth considering the fact that according to the weekly liquidation chart, the majority is expecting a decline and has opened (or is ready to open) a large number of short positions from 45K to 50K. This may indicate the gathering of liquidity above these levels, and only after that, a full-fledged correctional decline will begin.
