📉 $BTC What’s the outlook for the next 2 months?
I’m leaning toward the possibility that the weekly uptrend has run its course. The next step could be a correction, but that doesn’t necessarily mean a sharp drop tomorrow.
🕰️ The scenario I’m expecting is more of a sideway-down move: prices correct while also taking time to absorb selling pressure and cool off market euphoria.
Looking back at 2023, after BTC broke out and confirmed the trend, it didn’t move straight up in one go either. Instead, it pulled back to retest the trendline over roughly 1–2 months. That sideways stretch was quite uncomfortable, but it was necessary to validate the uptrend structure.
📍 On the current weekly chart, the 20-week MA is a level I’m paying particular attention to. If BTC returns to retest this area and reacts positively, it could be a good spot to watch for a chance to join the “second leg.”
Of course, we should wait for the price’s actual reaction rather than rush to guess the bottom. What do you think—will BTC correct quickly, or will it need a longer sideway-down phase before a new trend emerges?
#BTC #bitcoin
I’m leaning toward the possibility that the weekly uptrend has run its course. The next step could be a correction, but that doesn’t necessarily mean a sharp drop tomorrow.
🕰️ The scenario I’m expecting is more of a sideway-down move: prices correct while also taking time to absorb selling pressure and cool off market euphoria.
Looking back at 2023, after BTC broke out and confirmed the trend, it didn’t move straight up in one go either. Instead, it pulled back to retest the trendline over roughly 1–2 months. That sideways stretch was quite uncomfortable, but it was necessary to validate the uptrend structure.
📍 On the current weekly chart, the 20-week MA is a level I’m paying particular attention to. If BTC returns to retest this area and reacts positively, it could be a good spot to watch for a chance to join the “second leg.”
Of course, we should wait for the price’s actual reaction rather than rush to guess the bottom. What do you think—will BTC correct quickly, or will it need a longer sideway-down phase before a new trend emerges?
#BTC #bitcoin