$BTC
$BTC — I think the next move could be sideways.
After such a significant decline, I'm not convinced Bitcoin will immediately start another strong move in either direction.
The recent inflation data, uncertainty around the Fed and ETF outflows are still putting pressure on the market.
But after heavy selling, a period of consolidation would make sense to me.
My base case is sideways trading while the market absorbs the recent news and looks for a clearer direction.
That doesn't mean the bottom is in. Another negative catalyst could easily change the picture.
For now, I'd rather watch how BTC behaves around its recent lows than rush into a position.
Are we entering a consolidation phase, or is this just a pause before another drop?
ANALYZOR | Data over hype.
#BTC #bitcoin #CryptoAnalysis"
$BTC — I think the next move could be sideways.
After such a significant decline, I'm not convinced Bitcoin will immediately start another strong move in either direction.
The recent inflation data, uncertainty around the Fed and ETF outflows are still putting pressure on the market.
But after heavy selling, a period of consolidation would make sense to me.
My base case is sideways trading while the market absorbs the recent news and looks for a clearer direction.
That doesn't mean the bottom is in. Another negative catalyst could easily change the picture.
For now, I'd rather watch how BTC behaves around its recent lows than rush into a position.
Are we entering a consolidation phase, or is this just a pause before another drop?
ANALYZOR | Data over hype.
#BTC #bitcoin #CryptoAnalysis"