🚨 Bitcoin Alert: New Bearish Signal Sparks Concerns! 📉⚠️
Hold onto your crypto seats! 🚀 Veteran analyst Filbfilb, the maestro behind the accurate $48,000 BTC price top call, is waving a red flag with a fresh bearish signal. The recent Bitcoin dip to $40,600, marking a nearly 20% retreat from last week's highs, has stirred ripples in the crypto waters.
1. Three-Day Chart Flashing Warning Signs 📊
Filbfilb points to a concerning pattern on Bitcoin's three-day chart. The cross below the daily 50-period simple moving average (DMA) is causing echoes of historical instances, often preceding significant corrections. The chart traces back to Bitcoin's all-time high of $69,000 in November 2021.
🔍 Insights from Filbfilb: "3 Day red with a break below 50 DMA. Historical examples show potential downside ahead."
2. Bitcoin's Overnight Retreat and Skepticism 🌙
While Bitcoin bounced back above $41,000 after the dip, the market strength is not instilling confidence in traders and analysts for the short term. Filbfilb remains cautious, emphasizing the crucial role of three-day timeframes in predicting potential market movements.
🌐 What Analysts Are Saying: Liquidity conditions and crucial support levels are under scrutiny. Analysts like Tedtalksmacro point to $40,000 as a critical level, while others eye the mid-$30,000 range as a potential bounce zone. Crypto Ed suggests the possibility of another smaller leg down before a potential bounce.
💬 Join the Discussion: What's your take on this bearish signal? Share your insights and let's navigate the crypto waves together! 🚀🌊
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