Bitcoin / TetherUSSingkat
BTC: Possible double top?
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The recent price surge has exceeded my expectations, reaching new yearly highs. However, the longevity of this uptrend is uncertain. It's unclear whether we'll witness a new all-time high or if this is merely a temporary rally preceding a significant decline. Predicting market movements is challenging, but historical patterns can offer insights.
Throughout 2023, I've maintained a bearish stance due to unfavorable macroeconomic conditions, which I believe hinder a sustained bull market. Numerous indicators are at levels last seen during the 2008 financial crisis, raising concerns.
A key debate is whether the current scenario differs significantly from the past. Some argue that Bitcoin's value isn't solely reliant on the US economy, pointing to China's monetary policy as a potentially bullish factor. Others believe the situation mirrors past trends, predicting a downturn when the FED cuts rates.
Currently, Bitcoin exhibits a potential double-top pattern. A break below the support zone could lead to a drop towards $32,000, while surpassing the resistance zone might push the price towards $40,000. The market's future direction remains speculative.
Throughout 2023, I've maintained a bearish stance due to unfavorable macroeconomic conditions, which I believe hinder a sustained bull market. Numerous indicators are at levels last seen during the 2008 financial crisis, raising concerns.
A key debate is whether the current scenario differs significantly from the past. Some argue that Bitcoin's value isn't solely reliant on the US economy, pointing to China's monetary policy as a potentially bullish factor. Others believe the situation mirrors past trends, predicting a downturn when the FED cuts rates.
Currently, Bitcoin exhibits a potential double-top pattern. A break below the support zone could lead to a drop towards $32,000, while surpassing the resistance zone might push the price towards $40,000. The market's future direction remains speculative.
Nota
A lot of resistance between 37.5k and 38k. a break above 38k will lead to 40k BTC
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