Hope you guys haven't underestimated my analysis.
I warned you right at the top, when BTC was breaking out of this pattern. Since then, Bitcoin has dropped almost 16% from its highs.
Now, looking at the current chart, there's an important support area around $72K. If we draw a trendline connecting the July 2nd and August 17th lows, we can see that price is approaching this trendline support.
This is the area where I'm expecting a potential bounce or some sideways consolidation. However, I'm still not bullish in the short term.
If $72K fails to hold, the next major support levels to watch are $66K and $58K.
Let's see how the market reacts around $72K. This level is important for the bulls to defend.
What's your take? Do you think $72K will hold, or are we heading lower? Share your views in the comments. #BTC Price Analysis# #Altcoin Season# $BTC $ETH $USDT
I warned you right at the top, when BTC was breaking out of this pattern. Since then, Bitcoin has dropped almost 16% from its highs.
Now, looking at the current chart, there's an important support area around $72K. If we draw a trendline connecting the July 2nd and August 17th lows, we can see that price is approaching this trendline support.
This is the area where I'm expecting a potential bounce or some sideways consolidation. However, I'm still not bullish in the short term.
If $72K fails to hold, the next major support levels to watch are $66K and $58K.
Let's see how the market reacts around $72K. This level is important for the bulls to defend.
What's your take? Do you think $72K will hold, or are we heading lower? Share your views in the comments. #BTC Price Analysis# #Altcoin Season# $BTC $ETH $USDT
