$BTC These lows are overdue.
As long as price keeps holding above our key S/R level at $85k, a move back into the highs or even a short deviation above them remains possible.
But overall, I’m expecting a flush to the downside soon to take out some more longs before the next larger expansion to the upside begins.
I expect this corrective move to be a quick sweep into the $80k–$82k region and, if we’re lucky, potentially even lower towards $77k–$75k.
However, for price to reach my lower area of interest, we would need some significant selling pressure first.
The current range lows have been defended very well by buyers so far, with large amounts of bids appearing in that region whenever price approaches it.
Anyways, I already have orders placed in both of these areas and am long from $82.5k, so whatever happens from here, I should be well positioned for the next larger move.
#BTC Price Analysis# #Macro Insights#
As long as price keeps holding above our key S/R level at $85k, a move back into the highs or even a short deviation above them remains possible.
But overall, I’m expecting a flush to the downside soon to take out some more longs before the next larger expansion to the upside begins.
I expect this corrective move to be a quick sweep into the $80k–$82k region and, if we’re lucky, potentially even lower towards $77k–$75k.
However, for price to reach my lower area of interest, we would need some significant selling pressure first.
The current range lows have been defended very well by buyers so far, with large amounts of bids appearing in that region whenever price approaches it.
Anyways, I already have orders placed in both of these areas and am long from $82.5k, so whatever happens from here, I should be well positioned for the next larger move.
#BTC Price Analysis# #Macro Insights#
