$BTC More downside loading …



The bear flag I pointed out earlier today has now broken down, and price has found acceptance below it.

With this move, we also broke below an important support zone.

Because we lost this support, it’s highly likely that the 61k low gets swept next.

While it’s not impossible that we see bullish momentum return after the sweep, I currently expect a continuation to the downside.

This entire rally looked fragile from the start and was driven primarily by short covering and market manipulation.
BTC-2.6%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 6
  • 1
  • Share
Comment
Add a comment
Add a comment
LonelyStoneUnderTheAurora
· 4h ago
61k sweep sounds not far away
View OriginalReply0
GateUser-cbb8cdf5
· 4h ago
I've felt for a while that this round of rally doesn't feel right.
View OriginalReply0
AmberTeaSwirl
· 4h ago
Market manipulation has an end; now the debt is paid off.
View OriginalReply0
SilverLiningOfPessimism
· 4h ago
Maybe we can take a breather after the sweep, but first let's see it drop.
View OriginalReply0
EbbShellLedger
· 4h ago
Break below the support zone, bears celebrate
View OriginalReply0
MetalFrameBookPageCross
· 4h ago
Wait until the 61k liquidation is complete and see if there's a rebound.
View OriginalReply0
  • Pinned