$BTC: warning
2025-02-17
Category: None

📉  CRYPTOCAP:BTC  Chart Tells a Different Story Than Social Media
Bitcoin whales seem desperate to lure retail investors into  CRYPTOCAP:BTC , but the charts paint a different picture—one that looks more like a warning signal than a buying opportunity.

 🚨 Key Observations 
🔴 Rejected at  GETTEX:98K  SIX times – The dream of a pump to $100K+ is fading fast.
🔴 Rejected twice at $97.2K – Further signs of weakness.
🔴 Failed support at $96.7K – Old supports are now turning into resistance.

 📊 Technical Breakdown 
✅ Daily Chart: Shows bullish momentum, but price action cancels it as sellers take profits.
❌ Weekly Chart: Bearish and confirmed—this trend is playing out now. (Check my weekly bearish trend warning here: 🔗  TradingView Link )

 📉 Support Levels to Watch 
🔻 $95.7K, $95K, $93.3K, and $92.4K
🔻  CRYPTOCAP:BTC  should not drop below $91K without a strong bounce.

 🕰️ A Look Back: I Warned About This 
📌 December 17, 2024: I called the market top—it seemed crazy then, not so crazy now. 🔗  TradingView Link 
📌 November 25, 2024: I warned about this bearish consolidation, and it’s playing out exactly as expected. 🔗  TradingView Link 

 🔮 Where is the Bottom? 
📍 I still believe $85K is the likely bottom of this consolidation. Charts don’t lie—math always plays out in the long run. Of course everything can happen, I am talking about probabilities.
 
❓ Is This the End of the Bull Market? 
🤔 No clear answer. However, ETFs have changed Bitcoin’s cycle. Instead of a classic bear market, I expect:
🔹 1-month pumps 🚀
🔹 Followed by 5-month consolidations 📉 (-30% corrections)

 Conclusion:  We are chopping sideways, much like we did from June to October 2024. The probability of seeing $85K is high. Be cautious and trade smart. 🧐📊
The bull market will resume around May 2025.

