$BTC I mentioned yesterday, bro, be careful
Yesterday, we witnessed a VERY STRONG crash on BTC and altcoins because the 4-hour chart showed signs of weakness — creating 4 lower lows.
But also because Bitcoin had broken down from the important area around 72.5k on the weekly chart.
Only for today Bitcoin to reverse and bounce back above 70k, making the fakeout scenario come back to the analysis table.$ETH
the SUPER IMPORTANT support area around 72.5k on the larger time frames of BTC.
If by Sunday, the weekly candle closes above this level, then the support area remains completely valid.
This will be a perfect example of a fakeout: piercing below the important area, sweeping liquidations on one side, then reversing strongly.
Yesterday, we witnessed a VERY STRONG crash on BTC and altcoins because the 4-hour chart showed signs of weakness — creating 4 lower lows.
But also because Bitcoin had broken down from the important area around 72.5k on the weekly chart.
Only for today Bitcoin to reverse and bounce back above 70k, making the fakeout scenario come back to the analysis table.$ETH
the SUPER IMPORTANT support area around 72.5k on the larger time frames of BTC.
If by Sunday, the weekly candle closes above this level, then the support area remains completely valid.
This will be a perfect example of a fakeout: piercing below the important area, sweeping liquidations on one side, then reversing strongly.