Bitcoin on a Downtrend
Bitcoin (BTC) has been on a bit of a rollercoaster ride lately, and if you’re following the weekly charts, you might have noticed that the trend is currently on the decline. As of now, BTC is hovering around $96,500, but many analysts believe we could see a pullback toward the 81K mark in the near future.
The main factor behind this expected downtrend comes from market psychology and the actions of early investors. If you’ve been keeping tabs on Bitcoin's price movements over the past year or so, you’ll know that it’s seen some massive price swings. But here's the thing: a lot of the people who bought BTC when it was trading below $60,000 are now sitting on some pretty hefty profits.
These early buyers (many of whom bought in during the 2022 lows) have likely been holding their Bitcoin for the long haul. But at this point, with BTC reaching as high as 100K earlier in the cycle, there’s a good chance that many are now eyeing the exit. After all, securing profits after a significant price increase is just a natural move for traders and investors alike.
We are aware of donald trumps pump efect but ...
When these people start selling, it creates downward pressure on the price. Essentially, as they take profits, it can trigger a chain reaction of others doing the same. This could lead to a short-term selloff, pushing BTC toward the FVG - 81K range.
Looking at the weekly chart, there are some technical signals that suggest Bitcoin might face further downside. For one, we’re seeing a series of lower highs and lower lows, a classic pattern in downtrends. Additionally, BTC's price has been struggling to break key resistance levels recently, with the 100K mark acting as a strong ceiling.
Moreover, some key indicators are starting to show signs of divergence, which could signal a bearish phase in the market. If the price starts to dip below the 90K mark, we could see more panic selling, accelerating the downtrend toward that 81K target.
### Why 81K?
So, why 81K? The $81,000 price point is significant because it represents a middle tier FVG level for Bitcoin. Historically, BTC has shown a tendency to retrace to these levels before potentially finding new support and bouncing back up. Think of it as a “buy zone” for many traders who are waiting for the right moment to jump back into the market.
If Bitcoin does manage to hit this level, it could spark some buying activity from those who see it as an attractive entry point, potentially stabilizing the price and halting the downtrend. Until then, though, there’s a good chance BTC could continue sliding lower, driven by profit-taking.
However, market conditions can shift quickly, and if BTC manages to find support , it could spark a fresh rally. For now, though, it’s clear that the bears are preparing themself to take in control.
As always, make sure to do your own research use stop loss and stay informed—crypto markets can change on a dime! This is not a investment advice guys , we only see a downtrend and wanted to inform you about it be careful on your trades.
The main factor behind this expected downtrend comes from market psychology and the actions of early investors. If you’ve been keeping tabs on Bitcoin's price movements over the past year or so, you’ll know that it’s seen some massive price swings. But here's the thing: a lot of the people who bought BTC when it was trading below $60,000 are now sitting on some pretty hefty profits.
These early buyers (many of whom bought in during the 2022 lows) have likely been holding their Bitcoin for the long haul. But at this point, with BTC reaching as high as 100K earlier in the cycle, there’s a good chance that many are now eyeing the exit. After all, securing profits after a significant price increase is just a natural move for traders and investors alike.
We are aware of donald trumps pump efect but ...
When these people start selling, it creates downward pressure on the price. Essentially, as they take profits, it can trigger a chain reaction of others doing the same. This could lead to a short-term selloff, pushing BTC toward the FVG - 81K range.
Looking at the weekly chart, there are some technical signals that suggest Bitcoin might face further downside. For one, we’re seeing a series of lower highs and lower lows, a classic pattern in downtrends. Additionally, BTC's price has been struggling to break key resistance levels recently, with the 100K mark acting as a strong ceiling.
Moreover, some key indicators are starting to show signs of divergence, which could signal a bearish phase in the market. If the price starts to dip below the 90K mark, we could see more panic selling, accelerating the downtrend toward that 81K target.
### Why 81K?
So, why 81K? The $81,000 price point is significant because it represents a middle tier FVG level for Bitcoin. Historically, BTC has shown a tendency to retrace to these levels before potentially finding new support and bouncing back up. Think of it as a “buy zone” for many traders who are waiting for the right moment to jump back into the market.
If Bitcoin does manage to hit this level, it could spark some buying activity from those who see it as an attractive entry point, potentially stabilizing the price and halting the downtrend. Until then, though, there’s a good chance BTC could continue sliding lower, driven by profit-taking.
However, market conditions can shift quickly, and if BTC manages to find support , it could spark a fresh rally. For now, though, it’s clear that the bears are preparing themself to take in control.
As always, make sure to do your own research use stop loss and stay informed—crypto markets can change on a dime! This is not a investment advice guys , we only see a downtrend and wanted to inform you about it be careful on your trades.
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