Bitcoin (BTC) Warning: Bottom Still Forming – More Price Drops Ahead?

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Bitcoin, that perennial enigma, has purportedly landed somewhere near the $80,000 mark. One would think that after plummeting a mere $46,000 from its once lofty all-time high, we could call it a day and start baking the celebratory cake. Alas, dear reader, cementing this “bottom” is far from a simple affair. Caution, and perhaps a stiff drink, should accompany any trading activity. With sharp falls as likely as sudden, improbable spikes, the market is as unpredictable as a teenager’s mood swings. 🍸

If, by some miracle, we are indeed at the bottom (we can only hope), some might predict a v-shaped recovery. How quaint. However, considering liquidity remains as elusive as ever, this rosy scenario might be a tad too optimistic. Let’s not kid ourselves: the market sentiment is still more “doom” than “boom.” And with that, who knows? A short squeeze could make an unwelcome guest appearance, pushing prices higher in a manner so dramatic that even the most seasoned traders might find themselves clutching their pearls. In short, it’s still a dangerous time for Bitcoin enthusiasts, and erratic price swings could continue to be the order of the day. ⏳

A $BTC Bear Flag Forming?

The 4-hour chart for $BTC is currently unfolding a pattern that, to the untrained eye, looks like an ascending channel. To those who know better, however, this looks suspiciously like a bear flag. Yes, that old chestnut. Naturally, the bulls are praying this pattern is nothing more than a mirage. But let’s be real: these patterns have a habit of playing out, and this one is leaning towards a rather unfortunate conclusion-an exit through the bottom of the flag. How charming.

And let’s indulge in a little bearish fantasy, shall we? A measured move out of this flag could potentially drag the price down to the low $60,000s, which would be a most fitting conclusion to this “bear market winter.” Ah, the bliss of being in the depths of despair.

But hold your horses. All the liquidity for the short sellers is hanging out above $100,000, leaving those below with nothing but crumbs. In the world of market makers, the ones with the most liquidity tend to rule the roost. So, while it may seem like we’re stuck in a never-ending winter, a surge to the upside could well be the preferred option. Go figure.

A Drop to $60,000?

Just for fun, let’s take a look at what a measured move out of the bear flag might look like. Below, on the daily chart, we see a potential drop to around $62,000, which is just above the ever-important $60,000 support level. This is, of course, considerably lower than the bear market “level” of $70,000. Nothing to worry about, right? Who’s counting?

Now, it’s important to note that this isn’t a likely scenario. Oh no. The real showstopper is the mighty support at $74,000 to $69,000. If the price slips beneath this level, well, we’re not just confirming a bear market-we might as well burn the Bitcoin price models at the stake. Such a move would be a most glorious debacle. 🍂

Major Trendline is Key

The weekly chart for $BTC still looks quite promising-provided the price doesn’t plummet through the major trendline and confirm below. If it holds, the bull market remains intact, and we might even dare to hope for a price increase. The RSI indicator is down low enough to make even the most pessimistic traders twitch with excitement. And don’t forget the Stochastic RSI-bottoming out, darling. These are not insignificant signals. An eventual rise is more likely than not. Or, as they say in the markets, “bet on a rise, but don’t be surprised by a fall.”

Yes, there’s still volatility lurking around like a disgruntled cat. Market makers are itching to shake out anyone who lacks conviction. So, short this market at your peril, my dear. Consider yourself warned. 🐾

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2025-11-26 13:55