🚨CRITICAL ALERT: URGENT UPDATE ON BITCOIN🚨

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🚨 #Bitcoin Decline Imminent 🚨

🔍 Let's dive straight into the facts: A Bitcoin downturn is on the horizon. This is a natural market correction, not linked to Mt. Gox. Here's the detailed analysis:

📊 Daily Chart Analysis:

- Resistance Alert: Bitcoin is struggling at the mid-range resistance, which aligns with the 0.618 Fibonacci level.

- Dead Cat Bounce? Typically, prices rise to the 0.618 level before a significant drop. For Bitcoin to avoid this pattern, it must solidify $72,000 as strong support.

- EMA Retest Pending: Since Bitcoin broke above the 20 EMA in early June, it hasn’t retested this level, indicating a correction is due.

📉 4-Hour Chart Insights:

- Wave Completion: Bitcoin has completed a five-wave pattern and is now in an ABC correction phase.

- Correction Zones: The C wave is expected to bottom between the 0.618 and 0.5 Fibonacci zones, aligning with the anticipated 20 EMA retest on the daily chart.

🔴 Bearish Outlook:

- If $BTC breaks below the July 8 low, the technical target is the 1.272 Fibonacci level at $51,450.

- A deeper retracement could see Bitcoin reaching the 1.618 Fibonacci level at $48,054.

💬 Stay Informed: Keep an eye on these levels and stay vigilant. For those keen to master technical analysis, drop a DM or comment below, and let's connect.

📈 Stay safe and informed.

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