🗣ANALYSIS BTC/USDT Bitcoin has recently broken below the horizontal demand zone of a descending triangle pattern, signaling a potential shift in market sentiment. It is currently in the process of retesting the lower boundary of the triangle.
If the retest of the triangle's boundary confirms this bearish bias, we could see a continuation of the decline, potentially leading to a significant drop in price.
Analysts at QCP Capital noted that a drop in U.S. inflation, with the Consumer Price Index (CPI) at 2.9% in July 2024, boosted risky assets like Bitcoin, which rose above $61,200. The CPI decline signals potential Federal Reserve interest rate cuts, supporting market recovery.
Remember my spot buying level 49888 - many were making fun of this obviously it’s not going to go there in straight line , there will be pumps to even back to 67K - but as I predicted in May 2024 , my spot buying remains the same 48888