Secure your funds now⚠️⚠️ Big Dump Alert🚨🚨 Exploring the Shadows: The Truths Left Unspoken💥 (Secrets Uncovered: The Truths Everyone Missed )
Before I begin...👇
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The Truth Uncovered: What Lies Beneath
💥The price of Bitcoin has reached our upper, smaller resistance zone, where so far we are seeing a good rejection.
Bitcoin has reached again the line of 100EMA, where historically we have had pretty good rejections.
⚠️We are looking to get another rejection from here and a possible further downward movement toward 50K.
👀But if somehow we break the EMAs, then there is a chance to see another fakeout form.
This zone right here is the key zone for us, as if we fail to hold it right now we will form a full crossover on RSI and there will be a possibility of testing EMAs and even breaking them as well so eyes on the current zone!
📣 Upon reviewing the 1-Day timeframe, a breakout above the key level at 57,816 could signal a price increase towards the 60,000 zone. BUT THIS WILL BE SHORT-TERM BREAKOUT.
⛔ Stop loss: 56,200
On the other hand, if the price breaks below the 56,200 level, a drop towards the 51k or 49k zone may be anticipated.
MEN LIE, WOMAN LIE, BUT THE CHARTS DONT LIE.
Another Possible Scenario: 👇
BITCOIN has to maintain the RALLY that’s happening before our eyes.
We are in the beginning of our RALLY. This RALLY has to continue and the price has to move above 73k.
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🔥The Truth Uncovered: What Lies Beneath, Exploring the Shadows: The Truths Left Unspoken ⚠⚠
😂The bulls kicked the bears out of the town. We are so back! 100k is next!💥
😅If you have read something like this, please unfollow the person immediately.
However, there are three reasons why I am convinced that Bitcoin won't go much higher at this point.⬇️⬇️
1 — Rejected at Key Level
As lovely as the pump was, the bulls lost steam at the crucial level: 57.5k. This level is the bottom trend line of the consolidation channel. It looks like the beats were waiting to punch the bulls in the face.
Therefore, yesterday's price action looks like a retest of the breakout five days ago. So far, the bulls have failed to push through.
2 — No Higher High, Yet
Currently, it looks as if the price wants to reverse at the 57.5k level. If this is the case, Bitcoin has made another lower high, which further seconds its ongoing downtrend.
3 — CME Gap
Finally, we have a CME gap slightly above 54k. Typically, these gaps get filled sooner or later. They act like magnets unless there's strong bullish momentum (which I don't see right now).
Putting It Together
The bulls are alive—that's good. But the chances of going (much) higher at this point are low. A lower high, rejection at the key level and a CME gap that wants to be filled make another dive likely before we finally take off. 🚀🚀
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