Let's see, my people, who said that Bitcoin was a never-ending rise? 📈 Well, it turns out that the digital currency hit the brakes, and not gently.
After hitting a new all-time high near $124,000, Bitcoin pulled back and entered a slump that has everyone on edge. What's happening? Simple: it's correcting, but in a sharp way, and it's already below $118,000. In other words, almost all the gains are gone! 💨
Those who were ready with their wallets to keep winning are now in suspense. The price fell into a downward channel and is now moving cautiously. Analysts are seeing that if it doesn't manage to recover the $118,000, the drop could be much stronger, reaching levels like $115,000 or even, if things get ugly, down to $112,500. That's when things get spicy! 🔥
On the other hand, if the 'bulls' (that's what we call those who buy to push prices up) manage to push the price and break that $118,000 barrier, we could see a strong bounce back up to $120,000 or even more. It's a tug-of-war between hope and panic.
In summary, Bitcoin is at a crucial moment. Technical indicators, such as the MACD and RSI, are already indicating that sellers are winning the game. So, unless something big happens, it's likely that we'll see more drops in the short term.
Is this correction the opportunity to jump in or the signal to run away? 🤔$BTC
