BTC Update:🚨🐂
Pay attention to the purple color. The chart clearly shows a descending structure – each low is lower than the previous one, and each high is lower than the previous one.
In reality, BTC has a final zone that could potentially hold it back. I wrote about this before: it's the 61774-62514 range. Beyond that, there's a void, and a potential update of the cycle's low.
Furthermore, each high in this structure will now act as a significant resistance level, where a change in the local trend is likely to occur.
In summary, there are fewer reasons for it to rise, and more reasons for it to fall.
We are preparing for a dip.
Pay attention to the purple color. The chart clearly shows a descending structure – each low is lower than the previous one, and each high is lower than the previous one.
In reality, BTC has a final zone that could potentially hold it back. I wrote about this before: it's the 61774-62514 range. Beyond that, there's a void, and a potential update of the cycle's low.
Furthermore, each high in this structure will now act as a significant resistance level, where a change in the local trend is likely to occur.
In summary, there are fewer reasons for it to rise, and more reasons for it to fall.
We are preparing for a dip.