Ah, Bitcoin (BTC), the tempestuous darling of the digital underworld, has once again kissed the cold, unforgiving lips of its multi-year support trendline. On a Monday as gray as a sinner’s conscience, the flagship coin plummeted over 2%, sinking to a woeful $91,214 during the mid-North American session. What folly! What madness! 🌪️💔
Bitcoin Stands at the Precipice of Eternity
In the past four weeks, Bitcoin has shed 20% of its flesh, retesting its multi-month rising logarithmic trend. As the scribes of CoinPedia have duly noted, the BTC/USD pair was destined to caress the $92k support level, a mere formality to fill the gaping CME void. Oh, the irony of markets-always hungry, never sated! 🤡📉
In the weekly tableau, Bitcoin’s Moving Average Convergence Divergence (MACD) has whispered the dirge of a bear market. Behold, the weekly MACD, with its rising bearish histograms, teases a crossing below the Zero line-a harbinger of doom, or perhaps merely a cruel jest? 🦻♀️⚰️
What Awaits BTC Amid the Cacophony of Fear?
A rubber-spring rebound, born of short-squeezes and whale whimsy
From the altar of technical analysis, Bitcoin appears poised for a swift resurrection in the weeks to come. After closing last week in a bearish candlestick-a black shroud cast by leveraged traders-hope flickers. A short-squeeze, fueled by the insatiable appetite of whale investors, may yet trigger a rubber-spring rebound. 🦈🚀
According to the oracles at CryptoQuant, long-term capital, led by the enigmatic Strategy (which devoured nearly 9k BTC), has been hoarding like a miser in a famine. These whales, ever the gamblers, wager on the great migration of capital from gold to Bitcoin. And let us not forget the Fed’s Quantitative Easing (QE) in December-a bullish siren song for the crypto masses. 🎭💰
Or perhaps, the dawn of a multi-month bear market
Yet, should the whales falter, should they fail to swallow the selling sprees of short-term traders, Bitcoin’s descent into a multi-month bear market shall be as inevitable as the tolling of a funeral bell. If the price closes below $91k in the coming days, prepare for the abyss. 🕳️🐻
The seers at Glassnode proclaim that if the bullish thesis crumbles like a house of cards, Bitcoin shall plummet below $80k. Oh, the humanity! The hubris! The unending drama of it all! 🎭💸
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2025-11-18 01:38