🔥🔥Bitcoin Live and Die 🔥🔥
It’s a do or die moment for digital gold. Bitcoin has fallen below the key $60,000 level, which has been a significant support throughout the bull run to 2024.
This could spell the end of the bullish trend over the past year, especially if Bitcoin continues to fall below the 100-day exponential moving average.
As prices fall, trading volumes increase, indicating increased selling pressure. This is generally seen as a bearish sign, supporting the view that the market is turning downward. Trader sentiment is becoming increasingly cautious, with many preparing for further declines.
From a technical perspective, if Bitcoin fails to recapture the $60,000 level, the next major support is at $51,965. This means that further declines could be in the cards, leading to more selling.
On the other hand, to invalidate the bearish scenario, Bitcoin must break above the $60,000 resistance level. If successful, Bitcoin could attempt to break above higher resistance near $64,000, giving hope to bulls.
The market is volatile. If you have been chasing ups and downs recently and have no direction, look at the upside below 🚗, it will help you 👇👇👇
