BTC. Bulls are patiently waiting to come back!
BTC Update!
Bitcoin recently experienced a drop, which was largely anticipated based on my previous analysis. The question now is, what comes next? From my current assessment, it appears that this sell-off was mainly a result of numerous long liquidations, rather than a shift in sentiment or change in trend. I can observe a gradual accumulation occurring from this zone, and a positive aspect is that nearly all indicators are emerging from extreme oversold levels, indicating a bullish signal. The bulls are patiently waiting and displaying strength, while the bears are weakening. They might attempt another sell-off towards the 24000 zone. The most likely outcome in this scenario is for Bitcoin to rebound and test resistance levels between 28000 and 29000.
Please note that this is not financial advice.
Bitcoin recently experienced a drop, which was largely anticipated based on my previous analysis. The question now is, what comes next? From my current assessment, it appears that this sell-off was mainly a result of numerous long liquidations, rather than a shift in sentiment or change in trend. I can observe a gradual accumulation occurring from this zone, and a positive aspect is that nearly all indicators are emerging from extreme oversold levels, indicating a bullish signal. The bulls are patiently waiting and displaying strength, while the bears are weakening. They might attempt another sell-off towards the 24000 zone. The most likely outcome in this scenario is for Bitcoin to rebound and test resistance levels between 28000 and 29000.
Please note that this is not financial advice.
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