Please don't be too optimistic! Bitcoin will fall to 53K!!
2024-10-02

The overall trend of bitcoin is down, and it is expected to fall to 53K

If we look at the chart, we can see how the price traded within the resistance area, but then reversed and fell to the support level, breaking through the 64,000 level. After this, the price started to rise, but failed, and for a short time fell below the support level, which was in line with the support area, and all the way down to the trend line. Next, BTC turned around and started to rise, and later recovered to the 57,500 level, broke through, and then continued to rise. But then the trendline was revised in line with support and then rebounded to resistance. The price sometimes trades around this level, then breaks through it, after which it even rises above the resistance area. But not long ago, Bitcoin reversed course and fell to the trend line, matching the 64,000 level, and recently fell below the trend line. Now, I expect BTCUSDT to retest the trend line and then continue down, so I set my target below 60K. The final target is expected to fall to 53K.