🔍$BTC: My reasons for being bearish revealed! 🚨

Current price: $98,179 | Upside: +1.68% 📈

📣 Are you telling me the truth? The mainstream voices are calling for BTC to sprint to $103K, but the charts I see tell a different story. Maybe I’m wrong, but this is what I see…

BTC’s current situation: Although it broke through the 98.5K mark, it was rejected more than 10 times. Bulls tried to turn the tide, but the momentum was weakening. Trading volume was weak and the breakthrough was weak. At the same time, USDT.D rebounded, which may increase BTC selling pressure. If 98.5K is lost, there may be a false breakout and return to the 96.9K to 93.8K range.

Technical analysis 🔍

1D chart:

Struggling with VWAP and EMA resistance ($98.5K). RSI is close to overbought (64). MACD is flat and momentum is slowing down.

4H chart:

Dynamic resistance has been rejected repeatedly (10+ times). RSI shows bearish divergence. Volume declines, and buyers' confidence is shaken.

1H & 15M chart:

$98.8K breakout attempt is weak. Volume decreases, sellers enter the market. $97.2K lost = accelerated decline.

On-chain and market sentiment 📊

BTC.D rose slightly, Bitcoin's dominance increased, and altcoins were under pressure. USDT.D rebounded, risk aversion increased, and BTC was at risk of a pullback. TOTAL3 struggled, altcoins were weak, and liquidity tightened.

Future Outlook 🔮

Upside: Stable at 98.5K within 4 hours, aiming at 103K.

Downside: If lost, it may fall to 96.9K, 95.8K, and $93.8K.

At the critical moment, is it a real breakthrough? Or is it another inducement to buy more? Wait and see!

🥂 Stay vigilant and invest rationally! Don’t forget to like, share, and comment to build a prosperous community together! 📖