$BTC Market Update
BTC is crashing hard and has been in a downtrend for more than 6 weeks, breaking every major support.
That’s why I’ve said multiple times not to try catching falling knives.
I’m seeing a lot of leveraged longs on X from 70K–80K.
Many have either been liquidated or are close to liquidation.
If you’re holding spot positions, you shouldn’t be worried.
After some consolidation, I expect BTC to recover, and your spot portfolio should recover with it. But if you’re in leveraged longs, you should be concerned.
Now, this is the last major support zone I expect BTC to hold.
My HTF bias is still bullish. I believe we’ll see new highs, not overnight, but in the coming months.
Until then, we’ll focus on scalps and intraday setups.
BTC is crashing hard and has been in a downtrend for more than 6 weeks, breaking every major support.
That’s why I’ve said multiple times not to try catching falling knives.
I’m seeing a lot of leveraged longs on X from 70K–80K.
Many have either been liquidated or are close to liquidation.
If you’re holding spot positions, you shouldn’t be worried.
After some consolidation, I expect BTC to recover, and your spot portfolio should recover with it. But if you’re in leveraged longs, you should be concerned.
Now, this is the last major support zone I expect BTC to hold.
My HTF bias is still bullish. I believe we’ll see new highs, not overnight, but in the coming months.
Until then, we’ll focus on scalps and intraday setups.
