#Bitcoin is testing the same support for the fifth time.

The $58,000 support has been tested 5 times in the last 15 days, and the percentage of increase after each test decreases.

It is very important to maintain this support so that the decline does not continue, so the daily and weekly close should be above $58k.

If the support is lost, the probability of the price retreating to the area where long liquidations are intense will increase. In the current situation;

🔹Long liquidations are intense between $55-53k and $49-46k.

🔸Short liquidations are intense between $65-67k and $70-72k.

In other words, the answer to the question of how long the decline will continue if $58k is lost will be the $55-53k range.

If the price cannot hold despite the liquidations accumulated in this region being cleared, this time the possibility of $49-46k will come to the fore.

Since the $58k support has not been lost for now, it is too early to talk about these possibilities. For these possibilities to come to the fore, we need to see a daily close below $58k.

If such a close occurs, it would be logical to increase the amount of cash and reduce portfolio risk.

I will make instant updates like this when I think it is important, my friends.

We are in a critical period, so if it will be useful for you, I can add the current status of other data under this post. Just write which data you are curious about.

I wish everyone a lot of profit.