The whole crypto market and Bitcoin are crashing, and it looks like 2025 will be a very red year! From a bitcoin cycle's perspective, bitcoin has entered a bear market.

Let's look at the latest technical analysis on the 6H chart. Bitcoin hit a new all-time high on January 20, exactly the same day as Trump's first day in office. Thereafter, Bitcoin has been crashing.

Currently, the price prints a bearish flag on the 1H chart and a descending channel on the 6H chart.
$BTC

As long as Bitcoin is inside this descending channel, we have to stay bearish and trade with the trend until the end.

This bear flag is also a problem because you would rather not see such patterns in a bull market in general.

My next target is 72k, from here we could expect a bounce. Why 72k? Because it's the Fibonacci retracement of the previous major wave from 49k to 110k.

Trade at your own Risk 👍
Best Regards, Trade Cryptocurrency
Stay Tuned for Further Updates.

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