BITCOIN → Break of the bullish structure. Moving to 78-68K

6 days ago

has been slowly recovering for the last two weeks, but failed to overcome the resistance. The bears held the trend. The price is breaking the local bullish structure and preparing for a strong fall.

Bitcoin's fundamental background is weak, expectations were not met by the crypto summits, nor by any major announcements or hints of a crypto reserve. The crypto community still didn't get what they expected from Trump. The strong drop was triggered by the SP500 index falling, driven by rising inflation, reduced consumer pressure and new trade tariffs. These factors have contributed to increased uncertainty in the markets, prompting investors to move to safer assets such as gold and government bonds
Technically, the price has been in consolidation (correction channel) for two weeks and after breaking the support of the figure, the price entered the realization phase within the global downtrend.

Resistance levels: 85300, 86350, 89400
Support levels: 83600, 81270, 79980, 78100

Emphasis on the support at 83600. The price fixing under this zone may provoke further fall to 80-78K. But I do not exclude the fact that a small correction to the zone of interest is possible (to capture liquidity) before a further fall to the previously identified key zones of interest.

Regards R. Linda!

6 days ago

Note

6 days ago

Trade active

The price breaks the previously mentioned support 83636 and forms an impulse of 2%. For intraday bitcoin movement this is a very strong impulse)

Nevertheless, the price stops at the new local level 82082. Absence of a deep pullback, consolidation formation, breakdown and price locking under the level may also provoke further decline

2 days ago

Note

Briefly on Bitcoin

I recently told you about the April 1-2 rally and that you need to look at it soberly and try to understand what's going on.

The market was waiting for negative news and before that, liquidity had to be collected. The liquidity was collected due to the buyers joining the rally before the news, as well as due to the false breakout of the trend resistance and the level of 87500. A classic trap from a big player.

Bitcoin makes a false breakout and enters the selling zone. The price continues to gradually break levels and consolidate under them. At the moment the emphasis is on 83630 - 82080. The breakdown and fixing of the price below this zone may provoke the continuation of the fall

RLinda

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