#BTC update.
The analysis made yesterday played out exactly as described. See attached post from yesterday.
BTC has repeatedly attempted to break through it (e.g., at 98k, 97.8k, 97.2k, etc.) but without success. This is typical after a significant rise.
What’s next?
Not much changed, if BTC does not recover and hold 97.2k we are going to wittness lower lows.
Looking at historical patterns, repeated rejections often lead to a retest of the channel’s bottom (around 89k in our case).
The process unfolds gradually
- dump - pump - deeper dump. Position yourself wisely.
No one can predict the future with certainty, but the current indicators suggest a bearish trend on BTC.
Supported also by the fact that BTC dominace is decreasing (actually 53%) while money is outflowimg from BTC and flowing into altcoins, this is the reason of the rise of altcoins.
If you have questions, feel free to ask.
I’ll gladly share my knowledge to help you avoid the mistakes I made (even some I repeated this year). However, I won’t make decisions for you; my goal is to guide and educate.
Check my previous posts via the attached link to see how my analysis has held up over time.
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This is not a financial advise. DYOR