Bitcoin Update: Where Are We Heading?

Special Request Edition

Good Evening Traders,

Tonight we're diving into a Bitcoin update, prompted by a special request from one of our valued paid members. Bitcoin has been navigating through a challenging downtrend, and we're coming off a significant weekly level that has sparked a bearish reaction. This could potentially drive us toward new lows below the $49,000 mark.

As we analyze the charts, it's clear that Bitcoin is facing strong resistance on the daily time frame around $61,700, a level that recently failed to hold during the current down move. If Bitcoin attempts to bounce back, this area could act as a formidable barrier. However, I believe the downtrend is likely to persist, with our first target set at $55,830, followed by $54,000, and potentially lower towards $49,500.

In the video below, I’ll walk you through the detailed analysis and explain the key levels to watch. Stay sharp, trade safely, and let's conquer these markets together!