Update on today's Bitcoin movement readings:
This image is a modest screenshot from a phone taken a week ago, and here is a quick analysis:
If $BTC fails to break above $86,000, we are likely to see the price drop to the support area around $84,000 to $83,000.
However, if the decline continues, we might see the price drop to the next strong support area around $80,000 to $79,000, or even to a new peak around $75,000 to $76,000.
If it succeeds in breaking the aforementioned area!! It will stabilize and prepare to rise again to the areas of 87 and 88, but it is a (limited) rise. However, if it fails to break above $86,000, that will be a signal that the market is still in a downward phase.
- Important Note:
Short sellers (futures contracts) are the ones profiting this time. (This is not financial advice). This applies to $XRP and $ETH and SOL.
We must be cautious and closely monitor market movements, as the market can move quickly and without warning.