Lingrid | BITCOIN Faces Continued DECLINE amid BEAR Pressures

9 Sep

The price perfectly fulfills my previous idea. It hit target level. BTCUSDT in continues to trend downward, showing a lack of buying pressure since the last week of August. The price action has consistently produced lower lows and lower closes. Even on the daily timeframe, we’re seeing these lower lows, despite a recent false breakout below the July low, with the price hovering around that area once again. Historically, September has been a challenging month for Bitcoin, often showing negative performance. This suggests there is a likelihood of the price moving further down, possibly breaching the 50,000 level and targeting the support zone between 48,000 and 45,000. Should the price reach this area, we could potentially see a strong bounce and the beginning of a new bullish trend. My target is support level at 51220.00

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻