ALØNDRACRYPTØ
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$BTC The fall of Bitcoin to $84K is not a soft correction; it is an aggressive liquidation.
Bitcoin has just touched near $84,000, a level far below where we were just a few hours ago.
My personal opinion is that the market has entered a state of panic. It's as if the price has lost the floor; all those important lines that used to act as support barriers have been broken without giving us time to react, and now they are acting as ceilings that prevent us from rising again. The selling pressure is brutal.
Now, although the strength of the fall is undeniable, I feel we are reaching a point of exhaustion. When the relative strength index drops so much (it's at very low levels), it tells me that people are selling excessively, almost hysterically. This does not mean the price will reverse to $90,000 immediately, but it does suggest that the market needs a pause.
Bulls might try to defend that key support at $84,000.
The main trend is bearish and will remain so until we see a clear signal of reversal. However, in the very short term, selling is so widespread that I believe we are about to see a relief bounce, a small upward jump for the market to breathe. If we cannot hold above $84,000, the drop could be much deeper. For now, total caution.
Do you think $84,000 will withstand the panic or is it just a temporary stop before looking for a lower price?
#analisis #BTC86kJPShock
#alondracrypto
{spot}(BTCUSDT)
Bitcoin has just touched near $84,000, a level far below where we were just a few hours ago.
My personal opinion is that the market has entered a state of panic. It's as if the price has lost the floor; all those important lines that used to act as support barriers have been broken without giving us time to react, and now they are acting as ceilings that prevent us from rising again. The selling pressure is brutal.
Now, although the strength of the fall is undeniable, I feel we are reaching a point of exhaustion. When the relative strength index drops so much (it's at very low levels), it tells me that people are selling excessively, almost hysterically. This does not mean the price will reverse to $90,000 immediately, but it does suggest that the market needs a pause.
Bulls might try to defend that key support at $84,000.
The main trend is bearish and will remain so until we see a clear signal of reversal. However, in the very short term, selling is so widespread that I believe we are about to see a relief bounce, a small upward jump for the market to breathe. If we cannot hold above $84,000, the drop could be much deeper. For now, total caution.
Do you think $84,000 will withstand the panic or is it just a temporary stop before looking for a lower price?
#analisis #BTC86kJPShock
#alondracrypto
{spot}(BTCUSDT)
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