⭐$BTC Bear Market Scenario: 69K → 83K Is Just a Bounce Before Falling Back to 47K?
- Bitcoin is moving according to a scenario that has been outlined previously, and key price levels are gradually being tested.
- Currently, the $69,000 region serves as a short-term balance point, where the market may experience some technical bounces.
- If buying pressure is strong enough, the price could recover to the $75,000 region and further to $83,000. These are important resistance areas where selling pressure could return when temporary optimism appears.
- However, the overall structure still indicates that the downtrend has not ended. After the bounces, the expected scenario is that the price will continue to weaken towards the $58,000 region.
- If selling pressure increases and market sentiment becomes more pessimistic, a deeper target may lie around $47,000.
- This is a price area that could create short-term panic, but it is also where long-term capital begins to observe closely.
- As we move into Q2, the market picture may become clearer in terms of a downturn. At that point, the main trend will be confirmed, and current doubts may no longer exist.
- At this moment, the bear market is still prevailing, and the bounces should be viewed with caution.
- Subsequent updates will focus on how the market reacts at each key price level in the outlined scenario.
