BTC -30%? Possible Scenario

Even though I know this space is a bit different because most people here are big fans of Bitcoin going up, and they don't look at the charts without bias. Many are sure that Bitcoin's price will definitely go up this year, but there's no certainty in any market. And even if there is, as traders, we're not aware of it.

The fact that many people believe strongly in a price increase can actually be a warning sign for the market. In this recent upward trend, the price went up without any clear correction that could confirm the upward movement. In higher time frames, this upward movement might just be a small correction before a big drop.

This is just one possibility I see in this market, and I try to be careful, avoiding buying in this area. It's a reminder that this is just an analysis, and it's important to consider different viewpoints, especially in markets that might be unclear to you


Please note that this analysis is not intended as financial advice. Each individual should assume responsibility for their own trades. The purpose of this post is to provide ideas and inspiration, encouraging readers to view the chart from different perspectives. Always conduct your own research and analysis before making any trading decisions.

Comment:

the market is experiencing huge pressure from sellers, but major lows are still not touched/broken so we still can't confirm that the major bearish wave is finished

Comment:

At first look, this Bitcoin trade idea might seem exaggerated, but even with lots of good news, its price dropped by 15%. I expect it to go back up to around 40k after getting some more liquidities, but this is just a minor correction wave

Comment:

It reacted to the minor demand zone exactly how I expected, and now it reached the minor supply zone, I would look for short-term sell setups at this zone