everyone thinks this $BTC bounce after yesterday's drop means the worst is over but actually it looks like a classic trap.
too many people fomo buying this thinking they caught the bottom. that's how you get wrecked when the next dump hits and you're holding the bags.
price is slowly bouncing but there's a 2hr order block plus the 0.382 sitting right above. ngl that's the kind of confluence that usually rejects and continues lower. if we dump into the monthly reversal pivot window around 14-16 we might catch a small ltf bounce first before going even lower.
i don't think we're done with the downside yet. expecting the next 1-2 weeks to stay bearish. seeing the same weakness on $ETH .
where do you think this goes from here?
#Bitcoin #BTC #Crypto
too many people fomo buying this thinking they caught the bottom. that's how you get wrecked when the next dump hits and you're holding the bags.
price is slowly bouncing but there's a 2hr order block plus the 0.382 sitting right above. ngl that's the kind of confluence that usually rejects and continues lower. if we dump into the monthly reversal pivot window around 14-16 we might catch a small ltf bounce first before going even lower.
i don't think we're done with the downside yet. expecting the next 1-2 weeks to stay bearish. seeing the same weakness on $ETH .
where do you think this goes from here?
#Bitcoin #BTC #Crypto