📉📉 📉 Bitcoin Analysis: BTC at $62K – A Generational Bottom? 📉
Bitcoin recently dropped to $62,368, breaking key support levels at the 50-day EMA ($64,300) and 100-day EMA ($63,670). Holding the $63,300 range is crucial to avoid a further drop to $61,000 or lower.
Bullish Case: A triple bottom at $63,450 could lead to a recovery towards $66,800.
Bearish Case: Losing $63,000 support may push BTC to $61,000 or even $55,000.
Critical Support: The 200-day EMA at $59,558 is the last line of defense.
Stay cautious and informed.
This could be a generational bottom, but risk management is essential. 🚀💹
