Is this a FAKE PUMP or 58K is support for BTC?
Good day to all my family members. I’m back with my analysis today. From last update, I said that BTC might push to higher price range due to 58K coming sooner than I think. And yes, market push BTC to a higher price range which reach 60.5K.
But then BTC got rejected and drop back to 58K area. And now we see BTC meet 58K as a support and start bouncing back. So the question is, is BTC going to recover now?
My answer is still no. I don’t see any recovery hints from the chart. Daily Chart and Weekly Chart also told me that BTC is entering bearish momentum. If we pull out to a bigger picture and look into monthly chart, BTC is bear too. So, I see this bounce back from 58K as a fake pump.
Like what I said in last update, this fake pump might push BTC back to 61K area then dump hard. Or else they(whales) can’t get enough player on car. They have to let market believe that 58K is the recovery point. So first, push BTC broke thru 58K, then again make 58K as a support line. In this case, market will start believing that BTC is back, 58K is a support now.
Then, the whales will dump hard. Every player who get in the bullish train will get their wallet in trap or even got liquidated. So my strategy still same. We miss 58K for short, then we set SHORT again at 61-62K area.
This is my POV, everyone please DYOR. I hope you enjoy my analysis, if you do, don’t forget to hit follow, like, share or comment below. Thanks for your support and I’ll see you next week. All the best in 2024. Peace and love ❤️
