🚨🚨🚨 Urgent Bitcoin Update 🚨🚨🚨
Last week, I mentioned that the situation would clarify after the weekly closing, expressing a bearish sentiment if Bitcoin fell below 64k. As predicted, it rallied to 69k. However, yesterday, I highlighted resistance near 69k, noting a potential double top formation, signaling a bearish reversal despite bullish indicators.
Currently, Bitcoin is undergoing a significant downturn. Technical analysis reveals a break below a rising channel, followed by failed attempts to re-enter it, leading to the current crash. I anticipate it to drop below 60k, with strong support at 58k, a level previously tested during a similar downturn.
Considering these factors, I advise caution in opening long positions on Bitcoin, as any rallies may be short-lived and deceptive.
$BTC
