An analysis from a humble mechanic for $BTC : Is the engine preparing to launch towards 90k? 🏎️🔍
Through my experience and understanding of market mechanics, I see that Bitcoin is still in a general uptrend for three main reasons:
1️⃣ Shaking out buyers: The recent price fluctuation between the peak of 83k and the bottom of 74k is not a collapse. Rather, it is a "liquidity hunt" process and a deliberate scare to drive out retail traders. This correction is an engine cleanup and fuel gathering before launching towards 90,000 dollars.
2️⃣ Seizing opportunities: Large capital holders from major corporations and institutions are eagerly waiting for these retracements to buy at discounted prices. This forms a strong support wall that makes it difficult for the price to drop below.
3️⃣ Geopolitical cooling: The intensity of tensions and fears of major wars has begun to fade, and most likely things are moving towards a solution through negotiations soon. In the financial world, as soon as de-escalation is announced, prices launch at a crazy speed.
🛑 For beginners and quick scalpers:
I see that placing a stop-loss order at the 70k dollar levels is a safe choice that is hard to break, while our next targets remain drawn at the 85k then 90k dollar levels.
In the end, this is just a personal mechanical analysis based on my reading, not investment advice! 🛠️
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The coins I recommend following are
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