$BTC #TradeNTell
BTC/USDT D
I draw attention to the fact that on January 16 and 17, the 7EMA broke the 30EMA from top to bottom. This indicates the beginning of a downward movement.
When testing the $40,000 price support level, we see that there is a buyer. Sellers have already "breathed their last breath".
We can assume that now we will see a technical pullback towards the retest of the 30EMA at the price of $43,000. Here, the shorts will be thrown out of the game, and then the market maker (MM) can already go down to the next levels of interest. And this is already $36,000.
📰 Important macro data will be this Thursday. We can expect activity and revival of interest in the markets tomorrow and on Wednesday ⚡
Today, it is very unlikely that the asset will return above the previous high of $48,970. As we have already discussed, an active phase of distribution and sales in the market is currently underway.
I assume that buyers at the upper levels will no longer be released from positions and will have to sell assets lower.
MM will try to squeeze weak hands out of the game at cheaper prices.
