"BTC Urgent Update "
As I mentioned earlier, the crucial 63,600 area needed to be breached, but that didn't happen, and a decline was inevitable. Last night's drop wasn't unexpected, given the market liquidity had been decreasing over the previous week. The price fell to 20,410, then rose to 22,980 before the weekly close, hinting at a potential decline.
The dollar dominance ratio, which I predicted would be between 5.12 and 4.94, currently stands at 5.07, indicating a negative trend. Additionally, the outflow of funds from ETFs is contributing to BTC's decline, making it challenging to predict when it will rise or fall.
Here are the key levels to watch:
- Liquidity areas to retest the market rise: 21,970, 21,760, 21,650, and 21,550. A break below these areas, especially 21,550, could lead to a sideways movement to 21,000 or even 20,000.
- BTC areas to retest the rise: 60,100 and 60,800. A break below these areas could lead to 59,100, indicating high volatility between 60,300 and 59,100. If the 59,100 area is breached, we may see a drop to 56,000 or lower.
Keep an eye out for my upcoming analysis on ETH, SOL, and other currencies for potential rebound areas. Thank you for reading my post, and feel free to support me with tips to provide better content!"
