‼️BITCOIN MARKET UPDATE: CORRECTIVE MOVE OR FURTHER DOWNSIDE?
As expected, $BTC has continued to drop, as I already mentioned in my previous post. If BTC fails to hold the $68K zone, the next level to watch is $64K, and we could potentially see a further drop towards $62K.
The $62K area is now particularly important. If Bitcoin loses this level as well, there is little doubt that we could see new lows.
However, if you look at the previous major drop, Bitcoin experienced a similar straight downward move, followed by a small corrective recovery.
Since BTC has been continuously declining, a corrective move is becoming increasingly possible. This recovery could be around 5% to 10%.
Personally, I am still bearish, but I focus more on day trading and swing trading rather than long-term holding. My objective is to capitalize on market movements through short-term opportunities.
Another important point is that Bitcoin has previously established a base around its current price zone. This suggests that buyers may still be present who could defend these levels and help stabilize the price.
Bitcoin is already down almost 50% from its all-time high. Overall market sentiment remains bearish, but that doesn’t mean a pullback cannot happen. A 5% to 10% upside move can occur at any time, even in a bearish market.
In fact, after a continuous free fall, crypto markets often experience corrective recoveries before potentially resuming their downward trend.
For now, the most important thing to watch is whether Bitcoin can establish a sideways structure between $62K and $64K. This is the same area from which the previous reversal started.
If BTC fails to hold this zone, we could see it trading somewhere between $52K and $55K.
One final point: If Bitcoin manages to complete a corrective recovery, it could provide further confirmation of the possibility of another downward move afterward.
For now, I am watching the $62K / $64K zone very closely.
If anyone wants guidance just let me know.
#BTC #MrCurious
As expected, $BTC has continued to drop, as I already mentioned in my previous post. If BTC fails to hold the $68K zone, the next level to watch is $64K, and we could potentially see a further drop towards $62K.
The $62K area is now particularly important. If Bitcoin loses this level as well, there is little doubt that we could see new lows.
However, if you look at the previous major drop, Bitcoin experienced a similar straight downward move, followed by a small corrective recovery.
Since BTC has been continuously declining, a corrective move is becoming increasingly possible. This recovery could be around 5% to 10%.
Personally, I am still bearish, but I focus more on day trading and swing trading rather than long-term holding. My objective is to capitalize on market movements through short-term opportunities.
Another important point is that Bitcoin has previously established a base around its current price zone. This suggests that buyers may still be present who could defend these levels and help stabilize the price.
Bitcoin is already down almost 50% from its all-time high. Overall market sentiment remains bearish, but that doesn’t mean a pullback cannot happen. A 5% to 10% upside move can occur at any time, even in a bearish market.
In fact, after a continuous free fall, crypto markets often experience corrective recoveries before potentially resuming their downward trend.
For now, the most important thing to watch is whether Bitcoin can establish a sideways structure between $62K and $64K. This is the same area from which the previous reversal started.
If BTC fails to hold this zone, we could see it trading somewhere between $52K and $55K.
One final point: If Bitcoin manages to complete a corrective recovery, it could provide further confirmation of the possibility of another downward move afterward.
For now, I am watching the $62K / $64K zone very closely.
If anyone wants guidance just let me know.
#BTC #MrCurious
