$BTC Bears are in complete control & I’ve been saying since October that Bitcoin is not bullish at all in the midterm.
On the weekly timeframe, #Bitcoin has already broken the rising wedge and is now hovering near the 78k support.
If the 78k support breaks as well, next major target will be 55k.
Keep in mind, this is weekly analysis, so these moves will take time to play out..
I’m turning Bearish on $BTC for the midterm. However, whenever I see a short-term bullish setup, I’ll continue to share timely updates.
Let me make one thing clear — #Bitcoin bull run is over, and now late buyers are likely to get trapped.
Yes, #BTC is still moving inside the Rising Wedge, trading above the Weekly MA50, and bulls remain in control for now but the structure is weakening, and momentum is fading.
A few days ago, I mentioned a possible correction toward 100K, and many called me a clown or laughed it off. But I only share what the charts are showing, not what people want to hear.
The day Bitcoin turns Bullish again, I’ll be the first to turn bullish & when it’s Bearish, I won’t hesitate to stay bearish.
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