$BTC - Price analysis:

The price has fallen sharply for a number of reasons, Is there more bad news to come? 👀

For the moment it remains very bearish, but I think we'll see a liquidity trap around 52 000$ before a reversal! 📈
⚠️Key support monthly around 49 400$ (Flat tenkan)

➡️The current price is located on the lower zone of the downtrend channel (daily).
➡️Big weekly support around $52,000 - $50,000
➡️RSI very oversold (comparable to August 2023)!
➡️Bullish divergence M15 is settling in H1
➡️Lagging span line weekly reaches price resistance zone!
➡️Open drive candle weekly at 51 500 - 52 00$ (usually a key zone)

Have you seen my long-term scenario?📈
Personally, I remain in a bullish configuration on a weekly basis.
As long as there's no break of the 49,000 (W) (SSB) zone, I'm still bullish!!
I therefore believe that a short-term bullish rebound will soon take place towards the $56,500 - $57,000 zone! 📈

⭐️Very important levels to watch:
49,400 - 52,000 - 50,000 and $48,000

🐋Tips:
The market never moves in only one direction!
Watch out for volatility and don't try to SHORT the market now, knowing that a strong bullish rebound is just around the corner!

See you soon!

#bitcoin #BTC☀ #Dyor2024 #Bitcoin❗ #btcupdates2024