Watch out for the magic number of $87,700! 🤯 This is the real battlefield of Bitcoin right now, and whether we soar to the moon or face a deep reset depends on this.
Look, my trading pros, we are at that exact point where market indecision is felt even in the morning coffee. Do you remember the EMA bands (those moving averages that tell us the trend)? Well, Bitcoin has crashed against that dynamic resistance twice and is now attempting it for the third time. The price is tightening, like a spring that can't take the pressure anymore, forming a spiral that always ends with an explosive movement. 💥 The calm before the storm, my friends!
The key point is this: if the bulls (the buyers) manage to defend that support of $87,700 with nails and teeth, it is very likely that we will gain the necessary momentum to break through $90,000 and head straight towards $95,000. But watch out! If we lose that level, if we fall below $87,700, the path becomes slippery and we could go fill those liquidity bags waiting below. 📉
Now, things get interesting if we look at the big picture, the weekly chart. Merlijn, the trader we follow, reminds us of something vital: these crashes are part of the bullish game. So far in this cycle, Bitcoin has already seen drops of 22%, 34%, and 32%... and after each one, it has risen to new highs! The last drop was 36%, and this is not panic, it's a pattern. The overall structure, the long-term trend line, remains completely intact! 🚀 It's not the time to let everything go out of fear. The sentiment is cautious in the short term, yes, but the underlying structure is super constructive. Bitcoin bleeds, shakes out the most leveraged, and then, boom!, we head to new territories.
We are right above the level that will define our December. Volatility is contained, momentum is stalled. What about the market? It is waiting for its opportunity to define whether the next move is up or down. The only certainty is that the resolution is very close. ⏰
What do you think is Bitcoin's worst enemy right now? Is it the impatience of traders or technical resistance? Stay firm and prepared for the impact!$BTC
