Captain Faibik’s prediction is in tandem with the November 2022 notable descent, where it bottomed out at the $16,000 mark. “We bought the dip and now we are selling the top,” the expert stated.
Furthermore, the expert noted there is a 6-bar single print from May, a sign of market imbalance, that may need to be completed before bulls can take back control of the market.
At the time of writing, the price of Bitcoin was valued at $104,752, indicating a 1% decline in the past day and a 2.90% decline in the past week. Bearish sentiment continues to cloud the market, as evidenced by a more than 9% decrease in trading volume in the last 24 hours.
