BTC Unfolds in Complex Way After Hitting 123K
Bitcoin recently reached a historic all-time high near 123,200, marking a strong bullish run. Over the past two weeks, BTC has been consolidating, showing signs of a potential upward movement.
However, today's price action disrupted that bullish setup and introduced bearish momentum.
At this moment, two scenarios are possible:
1️⃣ Continued Bullish Momentum: The prevailing trend remains strongly bullish. Selling BTC now is risky, as there's a high chance it could resume its aggressive rise again.
False Bearish Breakout: The recent bearish signal may be misleading. BTC may be forming a broader accumulation structure, paving the way for another upward move.
2️⃣ Profit-Taking Phase: This bearish shift might be valid, suggesting that Bitcoin is entering a profit-taking cycle after an extended rally. If this scenario unfolds, a deeper correction may follow, aligning with the current technical pattern.
You may find more details in the chart!
Thank you and Good Luck!
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