Bitcoin's current market is similar to the period around October 20th, with a sharp decline followed by consolidation. It may seem weak and powerless, but in reality, it’s showing signs of not being able to fall further. During a decline, it never hesitates; if it’s going to fall, it will fall hard. It won't linger around resistance levels for so long. Currently, it’s a small-scale game, but on a larger scale, it’s almost certain to test the 98k resistance level. That area has a weekly dead cross on the higher timeframe, indicating a need for a retest. I continue to strongly bullish here. The target remains unchanged. To fall further, it needs to test the 98-99k zone to complete liquidity capture, then crash below 70k.
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#BTC Looks very soft, but actually very hard⬇️
Bitcoin's current market is similar to the period around October 20th, with a sharp decline followed by consolidation. It may seem weak and powerless, but in reality, it’s showing signs of not being able to fall further.
During a decline, it never hesitates; if it’s going to fall, it will fall hard. It won't linger around resistance levels for so long.
Currently, it’s a small-scale game, but on a larger scale, it’s almost certain to test the 98k resistance level. That area has a weekly dead cross on the higher timeframe, indicating a need for a retest.
I continue to strongly bullish here. The target remains unchanged.
To fall further, it needs to test the 98-99k zone to complete liquidity capture, then crash below 70k.