Potential last but hard Bearish Turnaround for BTC

13 בנוב׳ 2023

After a thorough analysis of the current BTC chart, it appears that the momentum that propelled the recent upsurge is waning. Despite a potential minor uptick, the overall sentiment suggests that we are on the brink of a bearish phase.

The initial wave, largely influenced by the ETF news, seems to have run its course. While an approval could inject some optimism, the implementation is still months away, leaving the market unsupported in the interim.

Given the technical indicators and market sentiment, I believe we may be entering the last significant bearish trend, potentially bottoming out near the FWB:21K mark. While some analysts speculate a dip as low as $15-16k, such levels seem unlikely without substantial market upheavals.

As we navigate this downturn, it's crucial for investors to stay vigilant and consider accumulation strategies around the FWB:21K support line, in preparation for the next bull run. It's essential to monitor key resistance levels and market news closely, as the landscape can shift rapidly.

Remember, in trading, there are no certainties, only probabilities. Keep an eye out for buy opportunities but do so with prudence and always have a risk management strategy in place.