ANALYSIS OF $BTC
I told you before this drop that going short was the best option, but that’s in the past now. We need to look to the future.
WHAT HAPPENED?
BTC fell to around the 80,300 zone in a downtrend channel with strong selling pressure, which we can see in its CVD and OI. The price made a new low, breaking our previous range and liquidating many long positions.
WHAT WILL HAPPEN?
We could see BTC recover to around 85,300 before continuing this downtrend. The dynamic POC and a lot of liquidity are in this zone.
BTC could be in a wave 2/B, so be careful—the retracement could be larger. But as long as it doesn’t break 87,500, the trend remains bearish.
Here’s my chart analysis to help you understand it better. If you have a different opinion, leave a comment so we can help each other.
Good luck, everyone ✨
I told you before this drop that going short was the best option, but that’s in the past now. We need to look to the future.
WHAT HAPPENED?
BTC fell to around the 80,300 zone in a downtrend channel with strong selling pressure, which we can see in its CVD and OI. The price made a new low, breaking our previous range and liquidating many long positions.
WHAT WILL HAPPEN?
We could see BTC recover to around 85,300 before continuing this downtrend. The dynamic POC and a lot of liquidity are in this zone.
BTC could be in a wave 2/B, so be careful—the retracement could be larger. But as long as it doesn’t break 87,500, the trend remains bearish.
Here’s my chart analysis to help you understand it better. If you have a different opinion, leave a comment so we can help each other.
Good luck, everyone ✨