IS BITCOIN ON SALE OR HEADING TO THE ABYSS? 📉 What the chart tells us today
The outlook for
$BTC has become tense. After seeing Bitcoin touch $70,000 just a few hours ago, we are faced with a correction that has many hovering over the "Sell" button. But is this really the end of the rally or a golden opportunity?
🔍 Flash Technical Analysis (15m Timeframe):
Bearish Pressure: The price is trading at $68,260, sitting below the key moving averages (MA7, MA25, and MA99). This indicates that, in the short term, the bears are in control.
Critical Support: We are testing the $68,100 area. If this level breaks with volume, we could see a quick visit to $67,500 or lower.
Book Sentiment: The lower indicator shows 54.84% Supply versus 45.16% Demand. There are more people wanting to exit than to enter at this very moment.
🤔 Buy or Wait?
If you are impatient (Risk Scenario): Buying here is betting that the $68k support will hold. It’s a "technical bounce" zone, but dangerous without a strong green candle confirmation.
If you are conservative (Safe Scenario): The ideal is to WAIT. A safer entry would be after a confirmed recovery above $69,000 or if the price touches a more solid floor and shows rejection to keep falling.
💡 My Recommendation:
Patience often pays better than euphoria. Watch the closing of the next 1-hour candles. If buying volume doesn’t appear soon, the drop could extend.
⚠️ Disclaimer: This analysis is merely informational and based on visible technical indicators in the chart. The crypto market is highly volatile. Each investor is responsible for their own decisions and should conduct their own research (DYOR) before trading.
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