After scaling the dizzying heights of its all-time peak, the price of Bitcoin has since descended, like a weary traveler, back to the familiar valleys of its pre-pump existence, erasing its recent triumphs with the swiftness of a disgruntled squirrel. The bears, ever the patient hunters, have begun their quiet reconquest, their sellers prowling the market with the stealth of a cat in a room full of mice. While the masses whisper of a miraculous rebound, the sage Melikatrader, with the solemnity of a prophet, has unveiled two grim possibilities for the cryptocurrency, both ending in the same bleak finale: a bearish reversal, as inevitable as the setting sun. 🐻📉
The Unraveling of the Channel: A Tragicomedy of Peaks and Valleys
The analysis, a tale as old as time, presents two paths for Bitcoin’s price after its fall from grace. Both begin with a fleeting hope, a bullish surge, only to crumble under the weight of bearish despair. Yet, in each case, the peak before resistance arrives is but a cruel joke, a mirage in the desert of speculation. 🏜️
In both narratives, the first act is the breaking of the lower trendline, a betrayal of the channel that once cradled Bitcoin’s ascent. This follows the initial breach of the ascending channel, where higher highs and higher lows danced like lovers in a waltz. But the break below the trendline signals the return of the bear, a shadow that looms ever larger. 🐻
With the bears tightening their grip, the price faces two fates. The first: a rally that stalls just above $118,000, a supply zone where sellers, like vultures, await their feast, ready to unleash a torrent of BTC and crush the price. The second: a rally that dares to climb further, only to meet the next supply zone near $120,000, where the same sellers, ever patient, will once again descend with a vengeance. 📉
How Low Can the Bitcoin Price Go? A Question for the Ages
The analyst, with the gravitas of a philosopher, notes that both scenarios converge on retracement levels where sellers, like ghosts in the machine, await their moment. From this, the price plummets, a tragic fall that ends at $115,800, a level once a bastion of support. Here, buyers, ever the optimists, may return, hoping to spark a new rally, though the odds are as favorable as a snowball’s chance in hell. ❄️
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2025-08-18 10:00