Why did $BTC drop in recent days? First, you need to understand that the price was overvalued and should have risen gradually, albeit slowly. However, due to news and FOMO (fear of missing out), BTC rose from 75,000 to 87,250. We notice an upward trend around 81,700. The initial breakout failed, but it reversed and successfully broke through. Now, there's a problem: this trend should have been a short-term breakout, meaning it should have lasted several hours before dropping. Instead, it retested the upward movement from 80,150, successfully breaking through the 81,850 level. We were on a path to a partial upward rebound towards 87,250. There was clear liquidity from the beginning, but it was fleeting. The break of this trend came after a long period when 84,000 failed, dropping to 82,600 at a support and rebound zone. The trend then broke through again at 87,000, then reversed and broke through at 85,000, breaking through to 86,650. But this time, it didn't continue, the trend failed, and a real correction began. Why didn't A rebound after a drop to 85,000, 84,000, 83,000, 82,000, or 81,000. The reason is clear: it was a downtrend, and its rebound zone was around 80,500. That's why it failed to break through most of the resistance levels above, but succeeded at one of the downtrend's support zones. This explains why it's now rebounding as if there hadn't been a drop two days ago, and is gradually rising again, as I just remembered.
