#BITCOIN ⟶ IS THE MARKET BOTTOM NEAR?!
🔻🔻For the price to continue its decline towards the first target (50096.10-52489.40), the daily candle must close below 55606.00✅
‼️Target 1 aligns well with the bottom of the weekly bearish channel, and there is potential for a bearish divergence confirmation at this support zone if the price declines.
🙅Therefore, we consider Target 1 as the maximum drop potential. There is a high probability of a bottom forming and an bull-trend starting from this area✅🚀
🔻🔻🔻However, if the divergence is negated, meaning the MACD forms a lower low, Bitcoin could continue its decline towards Target 2 (41218.20)😐
The conditions for a rally from this area (before closing below 55606.00) will be further analyzed on lower timeframes👇👇👇
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💎#Bitcoin / ⏱1h time-frame
🔻✅As long as we remain below the 15-minute bearish trend-line and today's resistance at 57365.30, there is a tendency for the price to continue its decline towards the aforementioned target (see figure)✅🔻
⚠️However, if the stop-loss for the current bearish scenario is triggered (a breakout of the 15-minute bearish trend-line and today's resistance):
🚀We can expect a temporary rally to the targets of 59124.60-59661.30, and ultimately 62121.60🎯⏱
☠️It is predicted that, after reaching these upward targets, the price will then decline towards the main target‼️
‼️Target 1 aligns well with the bottom of the weekly bearish channel, and there is potential for a bearish divergence confirmation at this support zone if the price declines.
🙅Therefore, we consider Target 1 as the maximum drop potential. There is a high probability of a bottom forming and an bull-trend starting from this area✅🚀
🔻🔻🔻However, if the divergence is negated, meaning the MACD forms a lower low, Bitcoin could continue its decline towards Target 2 (41218.20)😐
The conditions for a rally from this area (before closing below 55606.00) will be further analyzed on lower timeframes👇👇👇
.............................
💎#Bitcoin / ⏱1h time-frame
🔻✅As long as we remain below the 15-minute bearish trend-line and today's resistance at 57365.30, there is a tendency for the price to continue its decline towards the aforementioned target (see figure)✅🔻
⚠️However, if the stop-loss for the current bearish scenario is triggered (a breakout of the 15-minute bearish trend-line and today's resistance):
🚀We can expect a temporary rally to the targets of 59124.60-59661.30, and ultimately 62121.60🎯⏱
☠️It is predicted that, after reaching these upward targets, the price will then decline towards the main target‼️
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