Bitcoin Risk Warning: 📉 A Downtrend May Be Coming
Through the analysis of the Fibonacci retracement sequence, the price range of Bitcoin from a low of 76.k to a high of 110k has been plotted, and its trend patterns are gradually becoming clear.
In past market movements, Bitcoin has completed four pullbacks to resistance levels, specifically as follows:
The first pullback to the 0.768 position occurred when Bitcoin was around 102.5K, after which it entered 📉 mode;
The second pullback to 0.618, around 97k, was followed by 📉;
The third pullback occurred around the price of 93k to the 0.5 position, which also could not avoid 📉;
The fourth pullback happened near 89.1K, corresponding to the 0.382 position, which similarly welcomed 📉.
Currently, Bitcoin has completed its fifth pullback, this time to the 0.236 position! Based on past trend patterns, it is highly likely that we are about to encounter Bitcoin's fifth wave of 📉.
Once the decline begins, it is crucial to observe whether the resistance zone between 76.5k - 78.5k can stabilize the downtrend. If it can halt the decline, there may be a chance for a rebound; however, if it cannot hold, the next resistance level to watch will be in the price range of 73.5k - 75.5k, and the situation may become more severe.
Through the analysis of the Fibonacci retracement sequence, the price range of Bitcoin from a low of 76.k to a high of 110k has been plotted, and its trend patterns are gradually becoming clear.
In past market movements, Bitcoin has completed four pullbacks to resistance levels, specifically as follows:
The first pullback to the 0.768 position occurred when Bitcoin was around 102.5K, after which it entered 📉 mode;
The second pullback to 0.618, around 97k, was followed by 📉;
The third pullback occurred around the price of 93k to the 0.5 position, which also could not avoid 📉;
The fourth pullback happened near 89.1K, corresponding to the 0.382 position, which similarly welcomed 📉.
Currently, Bitcoin has completed its fifth pullback, this time to the 0.236 position! Based on past trend patterns, it is highly likely that we are about to encounter Bitcoin's fifth wave of 📉.
Once the decline begins, it is crucial to observe whether the resistance zone between 76.5k - 78.5k can stabilize the downtrend. If it can halt the decline, there may be a chance for a rebound; however, if it cannot hold, the next resistance level to watch will be in the price range of 73.5k - 75.5k, and the situation may become more severe.
