This Bitcoin (BTC/USD) chart indicates a potential bearish setup, with a target around the $53,000 level. The recent upward movement to approximately $81,000 is seen as a possible bull trap, suggesting that the current rally may reverse, leading to a substantial decline in price. The formation appears to be signaling caution for bullish positions, with a breakdown likely to follow as selling pressure increases. Btc dominance is expected to crash to 39 levels
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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.