BTC/USDT 🩸 • Bitcoin Massacre and Violent Collapse

Explanation of what happened:

What happened with Bitcoin is not just a drop; it is a "massacre" in every sense of the word. After the price was calm and playing above 120,000, suddenly it faced an abnormal sell-off that dropped it vertically. The chart shows us a scary red candle that broke all the supports in its way as if they were non-existent, plunging the price from 120,000 to a bottom of 102,000 dollars in just a few hours.

What could happen now?

1. Temporary rebound (fake rise): After every strong drop, it is very normal to see a small rebound upwards, and that is what is happening now. The price is trying to recover a bit from its losses. This rise could reach areas of 115,000 or 119,000 (these areas were support and have now become resistance).

2. Negative scenario: Despite this small rise, the overall situation has become completely negative. The bottom recorded at 102,000 is now the most important psychological support. If the price fails to continue rising and falls back, it might test this bottom once again.

In summary:

The market took a serious hit that changed all its balances. The outlook has become negative in the medium term. The current rises are mostly just a correction of the large downward wave. Those thinking of buying now are taking a very big risk because the sellers are the ones holding the market.

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