Bitcoin (BTCUSD): Bitcoin Overview (Top Down, Trend Bias a...

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Candlestick_Ninja

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Wednesday, 04/24/2024 8:13:22 PM

Wednesday, April 24, 2024 8:13:22 PM

Bitcoin Overview (Top Down, Trend Bias and 1 to 6 Month Timeframes, down to intraday) - 4/24/2024 - 8:00PM EST

In this comprehensive update, I will delve into the Bitcoin (BTCUSD) analysis from the 1-6 month timeframes down to the short term. I also include a video in the description that may help anyone interested in keeping the Cognitive Biases (Confirmation, Recency or other biases that lead to dumb things like "FOMO") in check.

📈 Key Insights:

Bitcoin likely found its top in the $70-$75k range.
Bearish bias, with expectations of a fall towards $50k as a major higher order level.
Short-term spikes towards $66-$70k are possible, but the overall risk-reward ratio for bulls is unfavorable.
Focus on understanding trading psychology to navigate Bitcoin's volatility.

📬 Disclaimer: For informational purposes only. Not financial advice. Trade at your own risk. #BitcoinAnalysis, #BTCUSD, #BitcoinOutlook, #CryptoAnalysis, #TechnicalAnalysis, #TA, #ShortTermTrends, #MarketAnalysis, #TradingPsychology, #RiskManagement