Bitcoin Bleeding — Short-Term Downside Likely
I'm seeing BTC bleed and losing key support levels, which increases short-term downside risk.
I'm cautious about entering new long positions until price stabilizes or shows a clear reversal on volume-backed strength.
I'll reduce exposure and wait for lower-risk entries or a confirmed recovery signal before adding back in.
Analysis
Accelerating sell volume and failure to hold previous supports indicate a likely continuation of the short-term downtrend unless selling momentum eases or reversal signals appear.
Recommendation
Trim long exposure or avoid new buys for now; consider re-entering only after a clear, volume-confirmed reversal or support hold.
Disclaimer
The 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.