$BTC respected yesterday's short setup exactly as expected.
As mentioned yesterday, the sweep above the 65.1K high provided a solid short opportunity.
If you entered that trade, you're likely in profit now. Consider locking in partial gains and moving your stop-loss to break-even to protect your capital.
For today's session, my focus is on managing existing short positions. We've already swept the previous day's high (PDH), and with it being the final trading day of the month, I'm taking a m...
Bitcoin global update ⚠️📉
-Monthly: bullish cycle intact above 36k.
-Weekly: strong bear trend, monthly bearish correction ongoing.
-Daily: sideways between 58,000-60,000 and 67,000.
-Bull case: break above → 71,000, 74,000, 78,000, 88,000.
-Bear case: break below → 54,000, 50,000, even 45,000 demand zone.
-Short term: watching 61,000-60,500 next.
My view unchanged for months: 75%+ chance we see a final dump/liquidity trap toward 48,000-45,000 before new ATH. Zone = monthly 0.702 fib + end ...
Yesterday, I said those calling for 40K $BTC may be expecting too much.
One reason is Long-Term Holder Supply, which has now reached a record 16.65M BTC, about 83% of the circulating supply.
That means more Bitcoin than ever is sitting with investors who have shown little interest in selling, despite months of market weakness.
For BTC to reach those extreme bear market targets, a significant amount of that supply would need to return to the market. So far, it hasn't.
I still don't think BTC ...