$BTC UPDATE - $USDT
Bitcoin needs to hold around $80K - $82K price level over the next few days and create a potential bottom, otherwise there’ll be a weekly close above this resistance on the $USDT.D chart which is an absolute red line for any bullish scenario to playout.
I have said thing in some of my previous update that this level on $USDT.D acts like a gateway to the bear market. Close above and I am definitely expecting atleast $50K.
Also in my YouTube stream yesterday, I explained this negative correlation between metals and bitcoin which is reaching it’s March 2020 negative levels and is a very dangerous sign because the same thing happened in 2020, 2018 and 2016 and at all three occasions, we had a 40-50% pullback on the bitcoin chart.
So, not expecting something as brutal as October 10th but there is going to be one similar liquidation event in near future.
Bitcoin needs to hold around $80K - $82K price level over the next few days and create a potential bottom, otherwise there’ll be a weekly close above this resistance on the $USDT.D chart which is an absolute red line for any bullish scenario to playout.
I have said thing in some of my previous update that this level on $USDT.D acts like a gateway to the bear market. Close above and I am definitely expecting atleast $50K.
Also in my YouTube stream yesterday, I explained this negative correlation between metals and bitcoin which is reaching it’s March 2020 negative levels and is a very dangerous sign because the same thing happened in 2020, 2018 and 2016 and at all three occasions, we had a 40-50% pullback on the bitcoin chart.
So, not expecting something as brutal as October 10th but there is going to be one similar liquidation event in near future.
