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$BTC looks primed for a sharp drop!
Over the past few weeks, price has steadily slid toward the $50,000 target.
The bounce from $60,000 never made it back into the broader resistance zone - clear buyer weakness.
In the weeks ahead, $BTC will likely stay capped below $50,000.
$BTC could run to $72,000 - but there’s a catch.
The chart hints the rally may have room to push higher, but that move could be the setup for an even sharper drop.
If price enters this zone, it may be a prudent area to look for short entries, with a corrective move targeting ~$50,000.
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$BTC is still in a sharp downtrend, but…
As expected, that support level couldn’t stop the drop.
Now it’s flipped into a strong resistance zone, and the downtrend is likely to resume from there.
A short-term long can make sense here, but the bigger opportunity is to scout higher-probability shorts.
A continued $BTC slide looks increasingly likely!
A key resistance level is close to breaking - if it gives way, the sell-off could accelerate fast.
Could we still see a reversal? Absolutely.
But right now, the chart is showing clear weakness.
It looks like the bull trap for $BTC is back in action!
We’re watching the same setup that played out six months ago.
If it repeats, the next leg down could drag price into the $50K–$60K range.
🚨 TAKE A LOOK AT THIS $BTC SETUP...
BTC entered a key “Bull Trap Zone” near $83k after an ascending channel rally
Kevin Warsh potentially becoming Fed Chair on May 22 could be a major shift - Fed leadership changes have historically aligned with major selloffs...
First downside target: $60k, with more downside below it
All eyes on BTC right now - turn on notifs, I’ll update
For over 95 days, $83,000 per $BTC has been the key upside target.
That’s also where the CME gap sat - a level price tends to revisit and “fill.” And it did.
So what’s next?
Nothing changes: the bull trap is done, and I expect the selloff to continue.