Look, here's the thing: Bitcoin tried to rise, reached $112,500 and even flirted with $113,000, but the momentum didn't last at all. It's like trying to climb a slippery wall. 🧱 The price is now trading below $112,000 and experts are seeing nothing but red signals.
Technical analysts, who are the ones reading the future of cryptocurrencies, are on high alert. The MACD, which is like a thermometer of momentum, is showing "bearish". And the RSI, which measures strength, is below 50! That in the world of cryptocurrencies is a cry for alarm. 🚨
And what does this mean in plain language? 🤔 That if Bitcoin can't break the barrier of $113,000, get ready, because it could start to fall again. The next supports, which are like safety nets, are at $110,750 and then at $109,500. If it breaks those, the hit could be stronger and take it down to $108,500. That's where it gets terrifying! 👻
This affects all of us who are involved in this business, because a drop in the largest cryptocurrency always generates a domino effect in the rest of the market. So, keep your eyes wide open and see if the bulls can turn this bear around. $BTC
