Something in the news just caught my attention.
Looks like the crypto market had a massive rally recently, driven by Treasury moves and a huge short squeeze. $BTC and other alts went on a tear, their strongest rally in months.
But today we're seeing some red across the board, a bit of a cool-off. $BTC is around $76927.87 right now, pulling back from its high of $78818. $ETH is also down, around $2413.74.
Here's how I'm looking at it:
IF $BTC manages to hold above its daily low of $76500 and we see continued positive macro signals, I think we could see another push higher. The underlying bullish sentiment from that short squeeze and Treasury intervention is still strong.
However, IF $BTC breaks convincingly below $76500, especially if it dips towards the $75k mark, then we might be in for a deeper correction. Ppl might take profits after such a big run.
I'm leaning towards the first scenario being more likely for now. The macro tailwinds are significant, and a lot
Looks like the crypto market had a massive rally recently, driven by Treasury moves and a huge short squeeze. $BTC and other alts went on a tear, their strongest rally in months.
But today we're seeing some red across the board, a bit of a cool-off. $BTC is around $76927.87 right now, pulling back from its high of $78818. $ETH is also down, around $2413.74.
Here's how I'm looking at it:
IF $BTC manages to hold above its daily low of $76500 and we see continued positive macro signals, I think we could see another push higher. The underlying bullish sentiment from that short squeeze and Treasury intervention is still strong.
However, IF $BTC breaks convincingly below $76500, especially if it dips towards the $75k mark, then we might be in for a deeper correction. Ppl might take profits after such a big run.
I'm leaning towards the first scenario being more likely for now. The macro tailwinds are significant, and a lot