Bitcoin on the daily interval: attempts are still failed to break through the trend and it did not succeed in maintaining its positions above $52,000..
🔼🔽The “liquidations” of short contracts between $53,000 and $55,000 may be cleaned again...
📈 The closest support is $50,600, breaking it we head to the strong support $48,900..
📈 The weekly closed at $52,137.67 below the resistance that was set at $52,880. Thus, we can say that the price failed to penetrate the strong resistance, and the update was delayed in order to see the reaction of the new weekly candle, which is currently green at $52,300
📉 Since Bitcoin is still below the trend line on a daily basis, this may suggest that Bitcoin may return to test the support areas that we identified previously.
🔭 How do I see the correction if Bitcoin does not break the trend line (this is a suggested behavior and not the only one)👇🏼
Return to $48,900, and if the price movement is weak, it will be broken because it is weak support
In this case, heading towards $45,400, which is considered strong support. There, Bitcoin may maintain its positions and move sideways, and it will be a very nice opportunity for the speculator because this will transfer liquidity to alternative currencies.
🧷As i also spoke on the Telegram channel “FBM_DISCUSSIONS” and warned that prices at $48,000 mark the stages of exiting the market to end the bullish cycle that began in 2023. All this rise was due to the submission of BTC ETF requests, and the funds were approved. It has been warned multiple times that after the approval of the funds, a decline will occur. Now, what is the end of this correction?
The end of this correction comes in stages:
$40,000
$35,000
$30,000
It is essential to monitor these prices during the coming period. Even if another rise occurs during this month, know well that this rise is temporary, even if the price reaches $45,000.
📈 Hold onto your seats, because $USTCUSDT is on a rocket ride to the moon! 🌕 Currently pumping and eyeing that 0.4 mark - buckle up for some thrilling gains ahead! 🚀💰 #USTCUSDT #Tothemoonbaby $USTC