🅱️ Why Bitcoin Will Continue Lower (Bitcoin Monthly) Explained!

14 abr

I am about to share a great piece of information with you that will help you clear all doubts. What would you do if you knew with a high level of certainty that Bitcoin was set to continue lower?

What steps can you take now or in the future in order to protect yourself, your assets, your portfolio, etc., as Bitcoin and the Cryptocurrency market goes down?

Whenever the market enters a range trading session, a consolidation/distribution phase, we go into the 50/50 mentality. We say stuff like, "There is a 50% chance it goes up, and a 50% chance it goes down!"

This is good because market direction before a breakout can't really be predicted but that's the reason why we use these charts. We can't predict with 100% certainty but we can predict with a very high level of accuracy. So we can use the information coming from the chart to adapt and improve profits, and our chances for success.

Yes, the pair starts ranging and we go into 50/50 mentality and then the breakout happens; in this case a breakdown. At this point many of us make the common mistake of going back to 50/50 once the waiting is resumed.

People are thinking again, "There is a 50/50 chance it goes up or down," even now but that's not true.

The breakdown is the confirmation.

As a strong support level has been lost, Bitcoin is now aiming lower.

Let me give you a very strong and compelling signal, can clear all doubts (let me know if it does for you in the comments). We will use the monthly timeframe.

Bitcoin (BTCUSDT) Monthly


➖ Today is the 14th of April.
➖ The month is only halfway through.
➖ Bitcoin went through a massive bullish phase.
➖ After a bullish wave comes a correction.

It is the first time in Bitcoin's history that its spot trading pair, BTCUSDT, grows 7 consecutive months green. At some point the market stops and turns red, as shown on the chart.

For Bitcoin to close green, it would need to end the month above $71,300.

Since we know this is the month that Bitcoin turns red, based on current action, we know that the remaining weeks can result in more lows, lower lows and lower prices as the correction unravels.

While daily we can get confused and lost with the noise: Will it recover? Will it continue lower? The bigger timeframe shows clearly that this drop is not the end of the correction but the start.

👉 Minimum target based on the monthly timeframe is $48,000 (EMA10).
A bounce can always happen at this level but be prepared, it can be short-lived.

👉 EMA21 around $40,000 is also of high probability and EMA50 ($30,550) the main support target on this time-frame.

That's it.

Summed up:

Bitcoin is set to move lower based on the monthly timeframe —the current drop is the confirmation of the first bearish month since August 2023.

Namaste.