Bitcoin Analysis for My Followers
According to the monthly chart, we are currently in an upward trend, and it looks like this will continue for the foreseeable future. For this trend to change, Bitcoin would need to fall below $30,000, which seems unlikely at the moment.
However, the candlesticks forming this month are concerning. They strongly suggest a potential downward scenario, and we may experience a sharp drop soon. My first expectation is a quick decline below $70,000, followed by further drops toward the $50,000 mark.
That being said, if Bitcoin manages to break above $90,000 and $100,000 this month, the upward trend will remain intact.
In light of this, I highly recommend staying away from both short and long positions at this time. I still remember the days when Bitcoin dropped $5,000 in an instant, only to regain that value just as quickly. The market system is not going to make it easy for you to win. So, be cautious and avoid making large investments.
Good luck...
