Yesterday we saw Bitcoin performing a powerful monthly closure.

But we also highlighted the possibility of a pullback before continuing higher.

Gift upto 3USDT

This morning, in fact, we’re seeing Bitcoin correcting after a distributive phase confirmed by the last CHoCH.

𝗦𝗼 𝘄𝗵𝗶𝗰𝗵 𝗮𝗿𝗲 𝘁𝗵𝗲 𝘇𝗼𝗻𝗲𝘀 𝗜'𝗺 𝗰𝗼𝗻𝘀𝗶𝗱𝗲𝗿𝗶𝗻𝗴 𝗻𝗼𝘄?

We’re currently testing the support at the equilibrium point, a potential area in which we can see a bounce to re-balance the previous gap (💧) but also something that I don't think will last long.

I'm expecting further downside to grab the liquidity below and at least to catch the bullish internal OB.

From there, another logical bounce could be in play which, in my idea, has the same connotation as the previous one, leading to the demand zone at 63/60K.

The reaction we will eventually see at that level will be important (notice how quickly BTC has been bought).

In case demand won't hold, the step in my opinion is seeing another liquidity grab toward the last two FVGs (💧) but front-running the demand zone below. (too many orders there)

With this PA, altcoins will likely take a big hit, meaning presenting an opportunity to buy more at a discount, so don't freak out in case this scenario happens.

HTFs remain bullish, a correction is definitely healthy.