Bitcoin is showing a clear pattern of long-term resistance at the ascending trendline, as depicted in the chart. Each time the price has approached this trendline—marked by significant peaks—it has faced strong rejection, leading to sharp and prolonged downturns. This consistent inability to break above the trendline signals that Bitcoin's price is heavily constrained by historical resistance levels.
The most recent peak highlights a similar rejection pattern, coupled with a steep reversal. This suggests that market sentiment is weakening, and buyers are losing momentum. Given the history of substantial crashes following these rejections, it is highly probable that Bitcoin is on the verge of another significant decline.
With the broader crypto markets often mirroring Bitcoin's movements, this impending drop could trigger a domino effect across all digital assets. To protect your capital, it would be prudent to exit crypto markets immediately, as the technical signals strongly point toward an imminent crash.
The most recent peak highlights a similar rejection pattern, coupled with a steep reversal. This suggests that market sentiment is weakening, and buyers are losing momentum. Given the history of substantial crashes following these rejections, it is highly probable that Bitcoin is on the verge of another significant decline.
With the broader crypto markets often mirroring Bitcoin's movements, this impending drop could trigger a domino effect across all digital assets. To protect your capital, it would be prudent to exit crypto markets immediately, as the technical signals strongly point toward an imminent crash.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.