Bitcoin’s Price is Falling! Will You Buy or Watch from the Sidelines? 😂

by

Ah! The Bitcoin price, ever the dramatic player on the market stage, continues its merry dance—ping-ponging between support and resistance. For now, it seems the bulls are still in control, having valiantly held Bitcoin well above the $100,000 mark. A psychological threshold, if you will, that could decide whether we’re heading for a bullish parade or a bearish retreat. 🐂🐻

Why Bitcoin is Throwing a Tantrum 😩

According to our dear crypto analyst, Xanrox (a name that sounds so mysterious, doesn’t it?), Bitcoin has begun to fall, after reaching a dizzying high near $112,000. The drama here? A breakdown from an ascending parallel channel, created as Bitcoin shot from $74,000 to $112,000. A truly magnificent rise, only to tumble from $111,000 to $103,000, followed by a brief rally. One must wonder, how much more excitement can we stand?

And here we are, with a symmetrical triangle inside that channel—oh, the suspense! We know symmetrical triangles tend to sweep liquidity (who doesn’t love a good liquidity sweep?), but the plot thickens. Will the bears or bulls rule the day? The answer lies in the direction of that very sweep—only time will tell. ⏳

//www.newsbtc.com/wp-content/uploads/2025/06/Screenshot-2025-06-03-at-07.25.12.png?w=3192″/>

Where to Start Buying? 🛒

Now that the decline is imminent, Xanrox is confident that Bitcoin will tumble to a mere $98,000, a level he considers the perfect spot to start buying. It’s almost like buying tickets to the show before the final act! Along with the chart patterns, Xanrox points to an unfilled Fair Value Gap (FV) at this level. Once that gap is filled, he claims it’s time to jump in and snatch up those coins, ready for the next upward surge. Up, up, and away! 🚀

If this decline does indeed unfold, altcoins, poor souls, are likely to drop even further. But worry not, dear reader, for these altcoins are practically begging to be bought, especially since they’re lounging near all-time lows. However, if Bitcoin’s first drop doesn’t inspire enough momentum, the next Fibonacci stop at the 0.500 level places Bitcoin at $92,000. A bargain, really.

And if you’re feeling really adventurous, there’s always the final level at 0.618, which could drop Bitcoin to a mere $87,500. Xanrox’s final advice? “Look for a buying opportunity at the 0.382, 0.500, or 0.618 FIB levels,” he says. Ah, the wisdom of the markets. How we adore it! 😆

Read More

2025-06-04 16:17