🔹The recovery ability of $BTC is gradually weakening over time as BTC continues to be pushed deeper towards lower support levels, indicating that the buying flow is not yet truly ready to return.
🔸The market is reacting strongly to President Trump’s nomination of Kevin Warsh as the Chairman of the Fed to replace Jerome Powell. Although Trump hopes Warsh will lower interest rates, the uncertainty about the Fed's independence has put pressure on risky assets like BTC, causing a sell-off.
🔸Technically, after the ongoing crash, BTC is showing a slight recovery trend in the short term, but the recovery force is not strong. It is expected to only rise back to resistance levels of 80,500 - 81,000 before being pushed down to lower supports again.
🔸The next support zone to watch for reactions is at 68,000. I have previously discussed the issues surrounding BTC quite a bit in earlier analyses. The recovery ability is low when the cash flow continuously shifts to the market $XAU .
🔸The short-term plan today is for BTC to attempt to recover to the 81,000 range to continue creating FOMO, after which it will turn back down to 68,000 - 63,000. If affected further by news, the figure 5x.xxx I mentioned earlier may become a reality.
🔹You should still carefully observe strong support and resistance levels to trade short-term but absolutely do not attempt to catch the bottom at the current price level. Currently, all recovery efforts are just temporary bounces to short, not a reversal of a trend. You should trade cautiously.
👉 Follow me for useful knowledge updates every day!
👉 Share personal views in the most objective way!