Bitcoin has slipped below its key trendline, causing concerns among traders about potential liquidity manipulation by market makers. However, uncertainty remains as the weekly candle still has five days before closing.
Bitcoin Breaks Below the Trendline
Bitcoin's drop below a key trendline has concerned traders. The price has also fallen below the previous wick low, raising suspicions about market makers' liquidity manipulation. Nevertheless, there's still a chance for recovery as the weekly candle has five more days to close. If Bitcoin fails to reclaim its trendline, the next major support might be the Kijun indicator at $81,000.
Will Bitcoin Reclaim the Trendline?
Historical price action suggests Bitcoin often experiences temporary breakdowns before recovering. A reclaim of the trendline could signal bullish momentum, but if the breakdown persists, a further decline toward $81,000 is likely. Traders should look for confirmation signals such as volume spikes, price rejections at lower levels, and key moving averages to predict Bitcoin’s next move. The coming days will be crucial in determining the short-term trend.
Final Thoughts
While Bitcoin’s dip below the trendline is concerning, there’s still time for recovery before the weekly candle closes. The next major support level remains at $81,000, and traders should remain cautious and monitor price action closely.
The current situation with Bitcoin requires close observation, as potential recovery could directly impact the short-term trend. Traders are focusing on the upcoming days.
