Exactly as I said a few weeks ago, when the price returned to the pivot point...!! #Bitcoin...!! On this weekly chart, the white line marks the point where a decisive bearish reversal occurred, at $86,540. The price has returned to this level—the white line (a bearish pivot)—and I do not believe it will be able to hold above it. A correction toward the $66,500 range is likely, which would represent a retest of the downtrend line (in green) that was previously broken. Beyond the technical analysis, the global landscape is serious, with the potential for an escalation in military conflicts, issues in private credit, concerns regarding the indebtedness of AI companies, a significant rise in long-term bond yields, and an energy crisis, among many other challenges.
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