Mihai Jacob, an observer in the well -known market, says that the Bitcoin Price gathering that followed the Powell speech on Friday It may not be strong as it seemed for the first time. He explains that the plans continue the signs of weakness that should not be ignored. According to Jacob, the leading cryptocurrency can still face another sharp decrease, and a decrease of less than $ 100,000 remains a real risk despite the short -term optimism.
Powell gave the Bitcoin price, but the charts tell a different story
Yaqoub explains that in his previous analysis, he referred to a $ 110,000 region Bitcoin’s main level. As long as this level holds, the broader bullish structure can remain technically intact. Powell gave a hint to reduce a possible rate, and a moment the market reaction was to excite Bitcoin wore Just as the merchants wanted.
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But Jacob quickly asks the difficult question: Was that a real power, or just a wishful thinking? It is recommended to circulate what you see, and not what you hope for. What he sees now on the plans does not match the initial joy of the gathering. Soon after this step, Bitcoin returned to the support level of $ 112,000, erasing most of the gains. For Jacob, this indicates that the market may have interacted with temporary news instead of Start a new wave of growth.
It warns that the bounce is very similar to re -testing broken levels more than a new start to a larger step. In other words, what It looked like a return In fact, it may be a sign that bitcoin is still weak. Instead of controlling buyers, the graph indicates that sellers are still responsible, waiting for the price decrease again.
Why remains a decrease of less than 100,000 dollars
Given the largest image, Jacob notes that Bitcoin is still trading below the direction line that has been applied since April, and highlights the form of price movement, which indicates a Possible head and shoulder The pattern is about $ 110,000. Although it is not perfectly formed, it is still sufficient to make cautious merchants uncomfortable about what may come after that.
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For Jacob, it is possible that the excitement that came from Powell’s speech is more than “Actage of orgasm“It is believed that the market sends a completely different message from what the headlines indicate. The idea that Bitcoin will simply return to The same level of support, Giving late buyers another easy opportunity is difficult to believe. Most likely, the “dead cat was bounced”, which is a short -term step before another fall.
Yaqoub explains that his current position is neutral in terms of active situations, but he is Expectations tend. Optimism may be tempting, but it insists that discipline requires merchants to trust in the plans, not their hopes. As Bitcoin continues to struggle at the main levels, he sees the possibility of a decrease less than $ 100,000 as very real.
Distinctive image from Dall.e, Chart from TradingView.com
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