Bitcoin current market situation || Steem Alliance Community

Hello Everyone,

Good evening everyone, how are you, i hope you all guys will happy and good. By the grace of God, i am also good. Today i am here with new post in which i am going to share current market situation. I will try to explain with the help of psychology prospective. So lets start.

Currently BTC is trading at 68k level. First of all, we look into steem chart and try to do the technical analysis.

From the point of 74k bitcoin price drop and hit the 64k level. Then again market bounce back and touch the 69k level then again it has dropped. So let's talk on the current market sentiment. As per 15m chart, BTC has entered into bearish movement . i am expecting that BTC will drop to these levels. 66k , 65k and 64k.

But another bad news is that. I am feeling bad smell to for btc movement because when btc drop at 64k then raise at 69k. Btc failed to break the 69k level. It is the resistance level and 64k is the support level. If this time btc drop and break the support level of 64k then we are seeing the btc come back toward 59k level.

In crypto word and stock exchange market, trader and big whales think in both directions. But new and small trader just follow the trend and loss a big money. Always think sharply. Everyone is opening long position then what will happen whale will short the market and liquidate their positions.

It is important to consider both bullish and bearish scenarios, especially when assessing support and resistance levels. Market sentiment can shift quickly so staying sharp and adaptable is key in trading.

I suggest everyone that not to trade in BTC. the market might currently be in a state of uncertainty or weakness and it is prudent to wait for clearer signals or a stronger indication of upward momentum before considering entering any trades. This strategy will help to mitigate risks and avoids potential losses during periods of uncertainty in the market.

we can see many support and resistance levels in the above chart.59k and 64k is the major support level. 69k is acting as a resistance level. If btc will break the 64k then 59k will act as a support level and 64k will act as a resistance level. It is very important for me to know that what you think about BTC in future and what is your plan in future about steem.

My analysis emphasizes the need for caution and strategic thinking in navigating market movements especially in volatile situation

It would be my pleasure if you will share your technical analysis of current market situation.

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