Saturday Morning $BTC Banter
🔹Many think we haven't retraced enough
Facts:
• Retraced over 20% from the top
• Right into the golden pocket from 33k pivot point
Thoughts:
We got what we needed, some balance.
Can we go lower?
For sure but not into low 30s imho.
Would it make sense?
Let's take a look.
🔹Sidelinooors calling for low 30s
Facts:
• Golden pocket above 45k not hit yet, acts like a magnet
• Imbalance on LTF leading to ≈ $40200
• HTF AOI ≈ $36300 - $37700
↠ untapped macro .382 fib
↠ untapped 25k pivot .5 fib
Thoughts:
Retrace from mid-high 40s would make sense.
↠ perfect zone to trap late longs
Bounce from HTF AOI is very likely
↠ perfect zone to trap late shorts
Tbh I wouldn't be surprised to see bitty range between mid 30s and higher 40s till halving.
What I wouldn't prefer to see is a strong new swing high, flip of 48k and push to new highs.
Why not?
I like slow and gradual growth.
Plus I would like to see $ETH and ALTs have a small rally before BTC shoots up.
