#BTC Update! As I mentioned yesterday, it’s now confirmed that BTC is in a retracement phase, which is completely normal.
If anyone believes that crypto only moves up endlessly, it will be usefull to take a look on the past movements and try to study daily or weekly charts movements.
The big question is, what’s next?
Truthfully, nobody knows for sure!Experienced traders who have learned valuable (and often costly) lessons, approach this with caution.
Historically, each time BTC reaches a new all-time high, a significant pullback usually follows.
Based on my chart analysis, indicators, and experience, I believe that BTC will attempt to break recent highs (76.4k).
A likely scenario is a retest of the former resistance around 69.2k to 69.6k, which now may act as a support level. If BTC bounces off this level, it may push for higher highs (above 76.4k); however, if it fails, a sharp drop could occur.
An unexpected “black swan” event (such as geopolitical tensions like Iran escalating conflict with Israel) could also trigger a sudden drop. In case of a Black swan all charts will lose their value, because people will sell in fomo.
Said this, in the long term (5-10 years), I’m optimistic about BTC’s potential growth alongside the broader crypto market.
Let’s see what happens next!
This isn’t financial advice, just my personal thoughts I’m sharing as part of my learning process.
Remember to DYOR (Do Your Own Research).
If you find my analysis helpful, please like, share, and follow for more updates.
#SOL #ETH #BNB #Write2Earn!