BITCOIN DEATH CROSS, BEAR MARKET CONFIRMED⁉️🤯

Bitcoin has just dropped to its lowest level since 2024, dropped to $69,500 and the mood has shifted fast. Emotion shifts fast fron confidence weeks ago, to doubt, fear, and a lot of second guessing.⚡️ Support & Resistance: Bitcoin decisively broke through the psychological $74,000 floor, which has now flipped into a major resistance zone. ⚡️ Indicators: The daily RSI has plunged to 29, signaling extreme oversold conditions. However, with the price currently trading below the 200 week EMA, the long term trend has shifted from "bullish" to "bottom discovery."⚡️​Macro Outlook: We are currently trading below the 200 week EMA, a level that historically separates bull cycles from mid phase bear markets. Analysts are now eyeing $68,000 as the next immediate line of defense, with a "max pain" target near $52,000 if the slide continues. ⚡️ Liquidations: The move was fueled by over $775 million in leveraged long liquidations, flushing out "weak hands" and resetting the funding rates.⚡️ The "Death Cross" Risk: We are currently seeing the 50 day SMA curling toward the 200 day SMA. If these cross, it would confirm a macro-bearish "Death Cross," potentially opening the door for a test of the $52,000 Fibonacci extension level. 🔹️History shows that downturns are when strong positions are built. Many long term holders are focusing on dollar cost averaging (DCA ) , cutting risky leverage, and holding quality assets. At the same time, protecting capital matters more than chasing quick rebounds.Right now, patience is a strategy. So is discipline. BE PATIENT AND TRADE SAFE ✅️$BTC
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