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We are in one of the most critical weeks for Bitcoin.
I have been sharing the formation for Bitcoin for months, and I can say that it has been working well in this regard.
I have frequently mentioned that $98K resistance is important for the #Bitcoin price. Because if a reversal occurs from this resistance, the formation is considered to have worked as a Quasimodo pattern. The price turned down from $97,950. The trend I should now pay attention to is $88,450. If the $BTC price operates below this trend, I will consider the formation target achieved and the main downward trend, the bearish trend, has begun.
If a reversal occurs from this trend upwards, the price will go to the $102K-$110K range for the last time and will continue into the bear season from there.
The Japanese interest rate announcement on Friday will clarify this situation. Therefore, I will update this analysis again on Friday. #BTC
⚠️ #advertisement or investment advice is not provided. This analysis is my personal opinion. It does not contain certainty.