don't buy
Bitcoin Bearish Trend Risks Critical Support at $111,000
I observe that Bitcoin is facing downward pressure, and it is critically important that the price does not fall below $111,000. A break below this level could lead to a decline all the way down to $105,000. Currently, the Fibonacci 0.5 retracement level is at the $111,000 mark. I wasn't prepared for such a steep drop during this decline, which caused me to lose on altcoins, but I believe I will recover quickly unless we experience a flash crash of 20-30% on Bitcoin.
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AI Analysis
The current Bitcoin price action indicates strong downward momentum, with the critical support level at $111,000 being tested. This level coincides with the Fibonacci 0.5 retracement, highlighting its...
AI Recommendation
Given the critical support at $111,000, I recommend traders watch this level closely. If Bitcoin holds above it, there’s potential for a quick rebound, and traders might consider cautious long entries...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.