BTC Analysis | Bearish Trend and Key Support Levels 1D TF
In the last major rally, BTC needed approximately $522 billion to drive a 51% surge. Data from Feb 5 to Mar 4, 2024, highlights the substantial capital influx required for such a rise. Given current market dynamics, the availability of similar liquidity to ignite another significant price jump seems unlikely.
1D TF highlights a key support level around $ 53K ~ $ 50.5K. This range is crucial to monitor before expecting further price drops. Additionally, there's a strong resistance zone at 60K ~ 65K. Bitcoin is likely to test the $ 65K resistance level before resuming its decline.
🔴 Still Keeping My Bear Stance 🧸 I’m waiting for the Price RANGE of $ 30K ~ $ 25K to open a LONG Position. Disclaimer: NFA ➖ DYOR 🧠 💡 Open for discussion on this analysis 💬
1D TF highlights a key support level around $ 53K ~ $ 50.5K. This range is crucial to monitor before expecting further price drops. Additionally, there's a strong resistance zone at 60K ~ 65K. Bitcoin is likely to test the $ 65K resistance level before resuming its decline.
🔴 Still Keeping My Bear Stance 🧸 I’m waiting for the Price RANGE of $ 30K ~ $ 25K to open a LONG Position. Disclaimer: NFA ➖ DYOR 🧠 💡 Open for discussion on this analysis 💬
Always remember the golden rule of investing: never risk more than you can afford to lose. Trade carefully and wisely. May each of your transactions be successful!
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