For me, at this stage, everything happening on a weekly timeframe is just noise.
There’s no point getting excited about a 10% rise.
Quietly accumulating a position—that makes sense.
A re-test of the lows is also a real possibility.
We also need to keep the "Covid-20" pattern in mind—and given the situation in the Middle East and the Strait of Hormuz, it makes sense to rebalance from BTC to stablecoins as much as you can afford.
Here is the plan for today: At the open, I’m looking for a test of the 63,400 level. If there is strong selling pressure there, I’ll expect the price to drop below 62k. However, if we simply sweep 63,400 and close above the previous week's VAL, I’ll look for long positions targeting the previous month's VAN. Regarding limit orders, there are currently large walls around the 62k mark, so I don’t expect a sharp sell-off. I think we’ll simply trade off these major limit levels this week. Major liquidation clusters are at 62k and 67k.
👀 #Grayscale has published a list of the top 15 crypto projects by protocol revenue, identifying them as the most attractive candidates for accumulation ahead of the potential passage of the CLARITY Act. $HYPE BULLISHHHHHHH
maybe we are entering the max pain phase (strategy FUD), when the fall will be overlaid with "horror stories" about the "end" of the crypto, due to the collapse of Saylor's pyramid #strategy
$ETH Ethereum is simply copying Bitcoin's movement so far; there's nothing unique on the chart. We've entered an imbalance zone. The ideal scenario is to remove liquidity at 1880-1900 and then look for a long entry point at 2200.
$BTC Currently, 68,400 is the key level for reaching 70,000, but so far, selling has only intensified as we approach it. The chart shows weakness. Lower targets: the POC is at 64,800, which coincides with a full fill of the CME gap. This is a strong price magnet. Liquidation clusters: The main volumes are concentrated at levels - 64,000, 73,000, 76,000.
Leverage levels in the market are declining with each passing week. Open interest continues to decline, as the market waits for a powerful catalyst that will allow players to confidently expand their positions.
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