🚨 Bitcoin’s Bearish Ballet: Will It Plunge 77%? 🕺💸

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Phizz-whizzing takeaways:

  • Bitcoin’s Supertrend indicator has gone all “sell” on us, and history says that’s a recipe for a 77% nosedive. 🌋💥

  • The crypto sentiment index is screaming “extreme fear”-sounds like Bitcoin investors are in for a spot of bother! 😱🤡

Ah, Bitcoin (BTC), you crafty old thing! Your SuperTrend indicator has decided to play the villain, flashing a “sell” signal on its weekly chart. And what a mischievous signal it is-historically, it’s been the harbinger of bear markets, the sort that makes even the bravest traders quiver like a jelly. 🧸⚰️

Previous signals? More like financial fiascos!

Last week, the SuperTrend indicator flipped from red to green and sashayed above the price, like a naughty imp dancing on a tightrope. This cheeky move has, in the past, led to jaw-dropping drops of 77% to 84% during the 2018 and 2022 bear markets. Oh, the humanity! 😭📉

This indicator, you see, is like a nosy neighbor, overlaying the chart and tracking BTC’s price trend with all the subtlety of a brass band. It even incorporates the average true range, which is just a fancy way of saying it helps traders spot trends-or, in this case, impending doom. 🕵️♂️🔍

The “sell” signal was sealed with a kiss (or rather, a weekly close below the 50-week moving average) on Sunday, marking the end of the bull market’s reign. Cue the dramatic music! 🎻🎭

“The Weekly SuperTrend indicator has flipped red for the first time since January 2023,” chirped crypto analyst Bitcoinsensus on X, as if announcing the arrival of a particularly nasty storm cloud. 🌩️☠️ “This means we could be waltzing into a bear market, though it’s not set in stone. Yet.”

“Early signs of a bear market? Oh, what fun!” 🎪🐻

If history decides to repeat its naughty tricks, BTC could tumble to a measly $75,000, thanks to dwindling demand from Bitcoin treasury companies and spot ETFs throwing tantrums. 🤑💨

Bitcoin sentiment says, “Brace yourselves for pain!”

As CryptoMoon gleefully reported, the Crypto Fear & Greed Index has plummeted into “extreme fear” at 11-its lowest since February. It’s like the whole crypto world is having a collective panic attack! 😖🌀

Looking back at Bitcoin’s past antics when the index was this low, we’ve got two possible scenarios. First, Bitcoin could take a nosedive before soaring to new heights, just like in 2021 when it dropped 40% before hitting $69,000. What a rollercoaster! 🎢🚀

“More pain ahead, but don’t fret-a reversal might show up in 2-3 weeks,” analyst Milk Road quipped in a newsletter, adding with a wink, “Lowered sentiment doesn’t mean new highs are off the table. Yet.” 🤓✨

Or, in the second act of this financial drama, Bitcoin could plunge into a full-blown bear market, just like in May 2022 when the index stayed in “extreme fear” until July. That was the darkest chapter of the 2022 bear market, with Bitcoin crashing to $15,000 from its lofty $69,000 peak. Ouchie! 😵💔

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2025-11-20 01:49