🛑🛑BTC Urgent Updates🛑🛑
1️⃣ We have confirmed the failure of retesting and penetrating the resistance area. The break was violent, but it ultimately returned to the lower levels, indicating a negative trend. Currently, BTC is likely to revisit the $50,000 to $49,000 areas. Unfortunately, BTC broke below the $56,500 support area, which was crucial for sustaining its rise.
The daily close was positive, suggesting a potential rebound. However, the opposite occurred, leading to a new collapse. The BTC dominance (BTC.D) remains bullish due to the positive close, now standing at 55.11. This is concerning because the BTC.D target is 55.91, indicating that a rise to this level could be negative unless significant liquidity enters BTC.
My technical analysis suggests no hope yet for alternative currencies. A high BTC takeover is possible during this week unless BTC declines in the coming days. The BTC takeover target is 55.91, and the current level is 55.11. A rise from here to the target without liquidity could be negative. We are at the beginning of the week, so a BTC rebound is possible. The formation of tails early in the week could indicate a potential bounce.
BTC needs a negative close to break the bounce contract and then potentially rebound a day or so after the close. Within two days, BTC is expected to drop from $53,500 to $52,000. The best strategy is to place buy options around the $50,000 and $52,000 areas, as it is very likely these levels will be touched within this week. Subsequently, BTC could bounce back and target the $56,500 areas again.
