Bitcoin Price Analysis: Potential Drop to $72k & Bybit Safety for Shorting
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Welcome to The Moon Show where we dive into the thrilling world of Bitcoin rollercoaster rides! Today, the team debates the likelihood of Bitcoin plummeting to $72,000, sparking a reevaluation of a cup and handle pattern. While uncertainties loom, they stress the critical importance of closely monitoring the weekly candle close to gauge market direction. Offering insights into recommended exchanges for shorting Bitcoin, they champion the safety and reliability of Bybit in the crypto realm. Altcoins are taking a beating, reinforcing the age-old wisdom of keeping the majority of your crypto investments in Bitcoin for stability during turbulent times.
Despite ominous signs of a bearish divergence, the team remains steadfast in their bullish outlook for Bitcoin, foreseeing the potential for a monumental price surge to $200-400k within the year. They acknowledge the possibility of short-term fluctuations or a dip to $70k, yet maintain unwavering confidence in Bitcoin's long-term growth trajectory. As Bitcoin experiences a correction below $87.7k, the team advises caution for those considering shorting and recommends waiting for solid support levels before considering long positions on Bitcoin or Ethereum. In the volatile world of cryptocurrency, strategic decision-making and a keen eye on market trends are paramount for success.
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Image copyright Youtube
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Viewer Reactions for VERY VERY BAD NEWS FOR BITCOIN !!!!!!
Discussion on market volatility and uncertainty
Encouragement to stay calm and stick to investment plans
Interest in meme coins, specifically Wagmidoge WADO
Confidence in Bitcoin's ability to recover
Speculation on Bitcoin reaching $130k and beyond
Mention of leveraging and risk management strategies
Comments on altcoin performance and stacking sats
Skepticism towards market predictions and influencers
Reference to potential upcoming price movements and weekly candle impact
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