Yesterday, I anticipated a decline based on the Bat pattern, but I was off the mark. On the other hand, AI predicted a short-term 70% rise, and it seems like AI is becoming more sophisticated, which is a bit intimidating. Thanks to the recent surge in Bitcoin’s price, trading volume has significantly decreased, and the market’s fear index has skyrocketed. I expect the price to decline within the next 24 hours, as there’s considerable resistance ahead.
Bitcoin Returns to Levels Seen Before Major Drop
The current price has reached the level seen before a sharp decline. It’s a recovery to the previous state, approaching the price that marked the start of August’s significant downturn. Despite two major drops, the lower wicks’ prices aren’t identical, and it doesn’t feel like someone is defending a specific price. What concerns me most is that someone seemingly ensured that the $50,000 level was defended, leading to this outcome.
Significance of Key Price Levels in Bitcoin
When a very specific price becomes the peak or trough in Bitcoin, it often holds significant meaning. This is why I am a bit worried. However, in the short term, it’s highly unlikely that the price will continue rising without interruption, considering the current trend in the August candlestick. Given the strong resistance encountered, I predict the price will correct at least once.
Let’s also take a look at the increasingly advanced AI reports.
