As we stated in our last update, we are still not bullish on Bitcoin. We are 100% sure that it will fall below $60,000, and that drop is coming soon! No doubt about it. đŻ
Why $BTC is weakening? đđ°
Since hitting $52,000, Bitcoin has failed to respect its resistances on longer time frames like daily or weekly. Despite some initial volume, it has faded over time. đš
The major trendline of Bitcoinâs latest all-time high is acting as a key resistance, rejecting Bitcoin at $66,200 on the daily chart five times now. This is a clear sign of weakening. đ
The fake pump: what's going on? đ€Żđ„
Recent bullish news like falling US unemployment, a Fed rate cut, falling inflation, and CZ updates have artificially inflated Bitcoin to capture liquidity. We call this a âDead Cat Bounceâ â ïž â a deceptive maneuver to trap retail investors before the market crashes again. đš
What's next for Bitcoin? đĄđ
We believe that Bitcoinâs golden era is over, and after this brief bull run, a major downturn is likely. Expect Bitcoin to drop to $45,700, after which we could see a full-blown bullish reversal. â ïž
Short term prediction: đź
Bitcoin could break resistance and reach $67,000-$68,000, only to trap investors before a series of red candles takes over. đ
đ° Current consolidation: $64,250 - $65,130.
Precautions: đ
1. Avoid leveraged trading in this volatile market: it's too risky.
2. Don't fall for sudden green candles; this pump is a liquidity trap. Stay careful!
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