Here's what I think might happen with Bitcoin, though I could be wrong. Recently, liquidations around $64,500 were triggered, and if you check the 2-week liquidation chart, there's nothing left on the upper side.
A while back, I shared a chart with you all, showing Bitcoin struggling to break above the upper trendline. There's also strong resistance in this area that's tough to overcome. I'll attach that chart again for reference.
So, why do I think Bitcoin will drop? First, there are no more liquidations to hit above, but there's plenty below, down to around $57,000. The recent market pump was nice, but it mainly happened to grab those liquidations. Now, those who opened short positions have been liquidated, and soon, people who went long in fear of missing out (FOMO) will likely face liquidation too.
Once all the liquidations are cleared and fear sets in, the market will likely pump hard again, and that's when we'll see Bitcoin break its all-time high. In the long run, Bitcoin is set to rise, but the market controllers will create panic to shake out as many people as they can.
This is how it usually plays out.
Let me know what you think!#Write2Earn! #bitcoin☀️ #Write2Earn! #BTC☀ #Write2Earn!
