Bitcoin Weekly Analysis: Potential Exhaustion in Price Action
While Bitcoin continues to form Higher Highs on the Weekly Time Frame, the overall price action appears to be gradually losing momentum. From my perspective, this could be an early sign of exhaustion, suggesting that the current bullish trend may be nearing its end.
If this weakening momentum continues, there's a possibility that a broader correction or even the beginning of a bear market could unfold post-September. In such a scenario, the market may attempt to hunt significant downside liquidity levels, potentially targeting zones around $74,000 and even as low as $48,000.
Of course, this is purely a personal prediction based on current price structure and market behavior. Only time will reveal how accurate this outlook turns out to be.
Disclaimer:
This content is for informational and educational purposes only and does not constitute financial or investment advice. The views expressed are based on personal analysis and should not be considered as a recommendation to buy, sell, or hold any asset. Cryptocurrency markets are highly volatile, and past performance is not indicative of future results. Always do your own research (DYOR) and consult with a licensed financial advisor before making any investment decisions.
If this weakening momentum continues, there's a possibility that a broader correction or even the beginning of a bear market could unfold post-September. In such a scenario, the market may attempt to hunt significant downside liquidity levels, potentially targeting zones around $74,000 and even as low as $48,000.
Of course, this is purely a personal prediction based on current price structure and market behavior. Only time will reveal how accurate this outlook turns out to be.
Disclaimer:
This content is for informational and educational purposes only and does not constitute financial or investment advice. The views expressed are based on personal analysis and should not be considered as a recommendation to buy, sell, or hold any asset. Cryptocurrency markets are highly volatile, and past performance is not indicative of future results. Always do your own research (DYOR) and consult with a licensed financial advisor before making any investment decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.