Attention, fellow enthusiasts! Recall when BTC soared to approximately 70500? I accurately foresaw a downturn, and indeed, it transpired. It descended to 64500. However, let's direct our attention to the latest developments now.
💥 Latest Update 💥
BTC is currently lingering around the 65400 mark.
This particular range, spanning from 64k to 65k, holds immense significance. It constitutes a robust support area. Should it breach, BTC could potentially dip below 60k, settling around 58k.
Tonight heralds the weekly closure, which will furnish us with valuable insights into the trajectory.
Drawing upon both experience and meticulous analysis, the outlook appears bearish. A weekly closure below 63500 might signal a descent to 58k.
This corrective phase was inevitable following the bullish surge from 38k to 74k. It mirrors the correction witnessed from 49k to 38k subsequent to the ETF announcement in 2021. While BTC may rally once more post-correction, should it tumble below 60k, the correction period could extend for weeks.
Crucial thresholds to monitor include 63500 and 58k, as they could prompt a BTC resurgence.
In essence, we find ourselves in a pivotal juncture. Should BTC maintain this level, another rally could be imminent. However, if it breaches the 64k mark and concludes the week below it, the situation could deteriorate.
Currently, it's prudent to refrain from longing BTC. Recall the fish theory I previously elucidated? We'll reenter the market once the downturn subsides. Until then, let's strive for incremental gains.
