Here’s where we are in #Bitcoin right now:

Sentiment is very low. There’s a lot of fear in the timeline right now.

BUT, bitcoin actually hasn’t yet broken down below the range it’s in. It’s simply testing local lows.

Now, IF #BTC breaks below $56,500 and closes there, then yes, it becomes bearish in the short/medium term. It would also invalidate the inverted head and shoulders I’ve been talking about. Should this happen, the next major level below is around $52k.

➡️ But we haven’t broken down yet. ⬅️

So, we are at a *pivotal* place on the chart. A line in the sand, if you will. We do want it to hold for bulls to remain in charge. And it hasn’t actually broken down yet despite all the fear in the timeline.

Let’s act on what we *see*.
#Bitcoin #BTC