🚨 Will #BITCOIN Crash Again ⁉️
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The market has experienced a significant downturn, relinquishing all the breakout gains observed on Thursday. Key support levels such as 62,400, 62,000, and 61,700 have been breached, indicating bearish sentiment. The current trend favors downward movement, with no substantial signs of a bullish reversal in the 4-hour timeframe. Previous attempts to break above the 200 EMA in late April and early May were short-lived, despite bullish confirmations. Presently, the price sits at the 0.618 Fibonacci level with dwindling momentum and support, suggesting a potential drop to levels around 59,000 and 58,000-57,000. Unless there's a significant bullish breakout above 63,500-62,000 levels, the market is likely to remain bearish. Additionally, upcoming inflation rate data may influence a potential bullish shift.
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