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.
🚨 BREAKING: President Trump says Americans are not against the war, pushing back against claims of growing public opposition. His remarks come amid ongoing debate over U.S. foreign policy and military involvement.
🇺🇸 Markets could react to any further developments or policy changes.
🚨 BREAKING: President Trump says Americans are not against the war, pushing back against claims of growing public opposition. His remarks come amid ongoing debate over U.S. foreign policy and military involvement.
🇺🇸 Markets could react to any further developments or policy changes.
🚨 BREAKING: President Trump says Americans are not against the war, pushing back against claims of growing public opposition. His remarks come amid ongoing debate over U.S. foreign policy and military involvement.
🇺🇸 Markets could react to any further developments or policy changes.
#BTC Liquidated Short: 🔴 $191K at $62,181.00 Bitcoin just wiped out $191K in short positions, signaling that bears were forced to close their trades as price moved higher. If buying pressure continues, this could fuel further upside through a short squeeze. Stay alert, manage your risk, and watch key resistance levels. 📈 #BTC #Bitcoin #Crypto #BinanceSquare #ShortSqueeze #CryptoTrading #Liquidation #Bullish
The bulls faced another flush as long positions were wiped out. Keep an eye on price action and manage risk carefully—high volatility can create both opportunities and traps.