BTC Outlook: ETF Approval vs. Chart Patterns – A Drop Before the
BTC is at a critical juncture as we anticipate the ETF approval next month. Despite this potentially bullish event, the charts paint a cautious picture. We haven't established a higher low in the last couple of months yet, signaling uncertainty.
There's a possibility we might not break the $50K barrier soon. Instead, we could see a retracement to the
39K
- $32K range. This scenario could offer a valuable opportunity to accumulate more BTC at lower prices.
Keep an eye on key support levels and watch for any shifts in market sentiment as the ETF decision approaches. This period could be crucial for setting the tone for BTC's trajectory in the coming months.
There's a possibility we might not break the $50K barrier soon. Instead, we could see a retracement to the
39K
- $32K range. This scenario could offer a valuable opportunity to accumulate more BTC at lower prices. Keep an eye on key support levels and watch for any shifts in market sentiment as the ETF decision approaches. This period could be crucial for setting the tone for BTC's trajectory in the coming months.
