Vlad Hryniv

On April 6th, $BTC dropped below the $80k mark, and by April 7th, it reached $74.5k – a move that shook global markets. 🧐

Is BTC entering a bear market? While some may still have hope, the latest price action suggests otherwise. Michael Saylor, who’s usually seen as a key player, stayed on the sidelines during this dip, raising eyebrows. 🤔

The recent breach of the $78.6k low on April 7th confirmed the bearish trend. 📉 Bitcoin has yet to form a solid bottom, meaning we might not have hit the worst of it yet. The RSI on the daily chart is showing growing bearish momentum, while the OBV is stuck in no man's land – no clear selling pressure or buying interest. ⚖️

However, there’s a slight glimmer of hope. 🔆 Bitcoin is testing the 61.8% Fibonacci retracement at $74.4k, and while it’s unclear whether bulls can defend this level, a short-term range seems to be forming between $75.1k and $80k. ⏳

But here's the catch – this could just be a consolidation phase before BTC potentially dives even lower. With rising uncertainty and liquidation levels building, it’s crucial to stay cautious. Traders should be prepared for the possibility of BTC dipping below $74.5k in the coming days. 🔻

Stay sharp, and keep an eye on the charts. 📊

📊 WhiteBIT Chart: BTC/USDT (4H)

#BTC Price Analysis# #Bitcoin Price Prediction: What is Bitcoins next move?#