Is Bitcoin about to collapse? Read More… For MEXC:BTCUSDT by ALEENA- — TradingView

Bitcoin has seen a significant slowdown recently, with its price stabilizing in the same price range for several months without any major changes. Often, even if we understand all the indicators and are optimistic, it’s natural to wonder whether Bitcoin will continue to grow.

Bitcoin’s price is currently between $84,000 and $92,000, the same price range it has been in since late November.

Now, think about this: Do you remember how after the low on December 18th, sellers were unable to get the price below $86,000?

Regardless of volatility and sideways movements, the lowest price was $86,400 and it never fell below that price, which is still the case today.

The lowest price Bitcoin reached yesterday was $87,277, and you can clearly see that this is the final low. Its price was $86,400 on December 24 last month and is around $87,000 this month.

We have a trading range, but there is still a clear and undisputed upward bias. The most recent moves have been higher highs, peaking at desired levels based on Fibonacci retracements; every move has included higher highs and lower lows.

So, we are in a period of bullish consolidation, and if we just look at the short term, we could even say it’s an uptrend. This will result in a higher peak later on.

The latest target is $98,000, which coincides with the 0.382 Fibonacci retracement level (reverse retracement) on this chart. The next target is 0.618 which is around $108,800…that’s what I have.

Although there are some uncertainties, they do not appear on the chart. Trust the charts and everything will be fine.

In fact, the next steps have already been revealed. Bitcoin is rising and you can open a long position with any leverage amount below 20x.

Any price trading below $90,000 now represents a very strong buying opportunity. Do whatever you can to make the best of the situation and it will go away in no time.

Once the temporary rise ends, Bitcoin’s price will begin a steep decline that lasts for several months.

I’ve mentioned before the possibility of Ethereum being separated from Bitcoin, but I don’t think so. I think Ethereum will have huge growth before a big correction occurs, but when Bitcoin crashes, everything will come crashing down. Don’t wait for the hype, greed, and excitement to make your decision. Now is a great time to invest for the long term.

Bitcoin is in a good position right now, and so are all altcoins. The market is rising, but we will face some challenges after this rise.

It’s always the same; up and down, up and down, up and down… We can all profit from up and down cycles.

Thank you for reading.