Technical analysis by bitcosar about Symbol BTC: Sell recommendation (6/26/2024)

🚨 Latest Situation in Bitcoin! #BTCUSDT Analysis (Price Target 56K) I am sharing with you the current version of the chart where I shared my 56K analysis in #Bitcoin. The red trend line I have drawn so far has worked pinpoint. I had drawn this trend line starting from 70K and it managed to fall to 58K. There was a 17% decrease. There are friends who ask me if I am still waiting for 56K. The price target of the rising wedge formation I showed in the chart is actually 54K, but I deliberately gave 56K as a price target a little above it. I am still waiting for these 56K regions. I will share if this plan changes. But as for the latest situation; #Bitcoin is currently trading in the 62K regions. Since everyone is now shorting due to the recent declines, the price may linger at these levels for a while and collect liquidity. Not everyone took a short position from the top 10 days ago like the BITCOŞAR Family. BTC took a short position when the price crashed. 🤭 For this reason, market makers may turn the corner this time and explode the short positions. Because many finos are now sharing shorts from these levels. (My dear, my reverse indicators are mine 🤑) However, another important issue is that there are still open long transactions that have not been exploded. They may not allow these transactions to be saved either. I think that we may go to the 63K-64K region in Bitcoin for a very short time during this process. It may not go above it so that the open long transactions from the upper region cannot be saved. They can make a 63K-64K increase, first explode those who were leaning on shorts the other day, and since it went to the 63K-64K region, come back and open long transactions, and then explode these longs with a sudden decrease and collect solid liquidity for the bull. (This paragraph is just a scenario, if you are not trading futures, do not pay much attention.) The decline and sideways movements may continue for a short while. These are my personal views, they are never definitive and are not investment advice. They are for informational purposes.