Bitcoin's recent price action has swept $61k longs, as anticipated. For a potential bounce, Bitcoin needs to reclaim the $62k level. Failure to do so may lead to a drop towards the $59-$60k range.
*Current Outlook:* $BTC
- $62k level crucial for bounce - Failure to reclaim $62k may lead to further decline - $59-$60k next potential support zone
1. *Sell Pressure Fading*: The selling momentum is slowing down, indicating a potential reversal. 2. *MACD Golden Cross Imminent*: A bullish signal is forming, suggesting a possible uptrend.
*What's Next?*
- Immediate liquidity zone: $112k-$113k $BTC - Potential bounce or consolidation around this zone
*Strategy:*
- Hold your $BTC for now - Monitor price action around $112k-$113k - Be prepared for potential price movement
Bitcoin's value plummeted from $111,381 to $108,425 in a stunning 15-minute selloff, wiping out over $3,000. This sharp decline triggered high market volatility.