Bitcoin: The Clash of Bull and Bear ($32K-$40K-$26K-$16K)
This time, we would like to express our view in a slightly bigger picture. So a potential correction looms, with targets pointing towards the $32K region, suggesting a substantial retracement from current levels. Before this bigger downturn we are aiming for here, there's an anticipation of one more re-test towards the $40K mark, a psychological and technical resistance that could serve as the last stand for bulls.
However, the prevailing sentiment hints at an overwhelming bearish pressure that could drive the price significantly lower, with the $24–26K zone emerging as the next probable destination. This scenario suggests a deep correction that aligns with historical market cycles, potentially bottoming near the $16K mark.
We need to remember that we are still in a bearish market overall. Markets are heavily overbought, and news are being manipulated massively.
The REPO market is incoming!
However, the prevailing sentiment hints at an overwhelming bearish pressure that could drive the price significantly lower, with the $24–26K zone emerging as the next probable destination. This scenario suggests a deep correction that aligns with historical market cycles, potentially bottoming near the $16K mark.
We need to remember that we are still in a bearish market overall. Markets are heavily overbought, and news are being manipulated massively.
The REPO market is incoming!
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Price of BTC surging towards $38K while trying to maintain this zone
Keep your eyes on the potential turnover if the price won't get safe secure here!!!