🚨 Urgent Update: BTC Price Analysis 🚨
My prediction has proven accurate once again. As anticipated, BTC faced a strong dump after reaching $72,000. This downturn was triggered by a significant sell-off of 1 million BTC, set at a sell target of $72,000. It's crucial to stay vigilant and cautious in the volatile crypto market.
💡 Insights and Analysis:
Last night, I outlined two scenarios while observing BTC's downward trend. If you followed my advice, you would have sold around the peak at $72,500 or before it dropped below $70,000.
Currently, BTC is retesting the pennant breakout point, hovering above the short-term support at $68,000. Tomorrow's CPI report will coincide with this retest, potentially influencing market dynamics.
📉 Scenarios:
- Scenario 1: Failed as BTC couldn't bounce off the local support at $70,000, indicating waning buying momentum.
- Scenarios 2 & 3: Hinge on the outcome of the CPI report. A successful breakthrough could drive BTC to $75,000, while a failure may lead to further drops towards $66,500 or even lower.
📊 Chart Analysis:
Refer to the provided 1-hour and 4-hour charts for detailed forecasts and Fibonacci levels. Keep a close eye on trading volumes leading up to the CPI report, as leaked information could impact market movement.
🌐 Global Market Impact:
Red markets prevail across all economic trades ahead of the CPI report, signaling risk aversion not limited to BTC.
Stay informed, stay cautious, and remember to like & follow for timely updates on market movements. Your success in navigating the crypto market is my priority. Good l#uck! 📈💰 #BTCAnalysis #CryptoInsights 🚀🔍$BTC $BNB #BullorBear $SOL #BTC🔥🔥🔥🔥🔥🔥