$BTC Has Turned Bearish Again! RESULTS
I’m trying to post a daily #Bitcoin analysis for you. The reason is that the market isn’t diverging right now. It’s continuing to focus entirely on Bitcoin. The same goes for other altcoins and $ETH.
As I mentioned before, the situation was clear: if the 85K level holds, the target is 90K; if it drops below that, a downtrend could resume.
Since the market’s reaction to the rate hike has subsided, the likelihood of a decline is now slightly higher. Just today, $613M was liquidated, and looking at the past week, the total amount is nearly $3 billion.
In other words, the market is still favoring a sweep rather than a clear directional move. During this process, it would be best to stick to the levels I mentioned. 85K is a key support and resistance level!
DYOR!
I’m trying to post a daily #Bitcoin analysis for you. The reason is that the market isn’t diverging right now. It’s continuing to focus entirely on Bitcoin. The same goes for other altcoins and $ETH.
As I mentioned before, the situation was clear: if the 85K level holds, the target is 90K; if it drops below that, a downtrend could resume.
Since the market’s reaction to the rate hike has subsided, the likelihood of a decline is now slightly higher. Just today, $613M was liquidated, and looking at the past week, the total amount is nearly $3 billion.
In other words, the market is still favoring a sweep rather than a clear directional move. During this process, it would be best to stick to the levels I mentioned. 85K is a key support and resistance level!
DYOR!
