IS $BTC GOING TO CATCH $90,000 SOON? OR IS A BOTTOM STILL PENDING?
Well, here is my POV on the last short squeeze, where I was in the opposing direction too, and there I realized my mistakes.
I was watching all the fundamentals and technicals very closely. The market should have crashed by now, but it hasn’t yet? The reason? Yeah, I know every fundamental number was expected, but they were priced in, and the market didn’t give the move I was expecting.
Clarity Act delayed? No major correction. Insane?
Fed hiked rates? Market went on a rally. Insane?
BOJ hiked rates? $BTC crossed $80K. Insane?
But all these events were already expected.
Leaving behind the rest of my mistakes…
With those fundamentals, the squeeze is done, but a correction is due. The question is, how much?
Let’s ask the technicals
Technically, the bear market is over on a monthly closing above $80,000, but the weekly is still confusing me because it hasn’t closed above the last structure. However, according to the technicals, the larger the timeframe, the clearer it becomes.
BTC has clearly done an MSB (Market Structure Break) on the monthly timeframe. Yes, quite different to hear, but you can’t ignore the technicals.
So, what to do?
A correction is due, and I’m expecting BTC to sweep $82,400 before a correction that could extend to the $72,500–$69,000 zone. Those were the zones I was targeting for my short, but unfortunately, I got the SL.
And those are the exact same levels on the Fib 0.5 and 0.62 zones, which I marked earlier.
Most of my spot purchases, I’m still looking at those levels. After that, BTC sets all the way for a new higher high on the monthly timeframe.
And this very much confluences with the USDT dominance chart.
I will share the chart with you. That exact $82K–$83K level breakout means the dominance is going to break the major support, and BTC could go all the way to an ATH.
@ZED Signals
#BOJRaisesRatesTo31YearHigh
#BTCBreaks80K #BTCUSDT #BitcoinDunyamiz #Write2Earn!
Well, here is my POV on the last short squeeze, where I was in the opposing direction too, and there I realized my mistakes.
I was watching all the fundamentals and technicals very closely. The market should have crashed by now, but it hasn’t yet? The reason? Yeah, I know every fundamental number was expected, but they were priced in, and the market didn’t give the move I was expecting.
Clarity Act delayed? No major correction. Insane?
Fed hiked rates? Market went on a rally. Insane?
BOJ hiked rates? $BTC crossed $80K. Insane?
But all these events were already expected.
Leaving behind the rest of my mistakes…
With those fundamentals, the squeeze is done, but a correction is due. The question is, how much?
Let’s ask the technicals
Technically, the bear market is over on a monthly closing above $80,000, but the weekly is still confusing me because it hasn’t closed above the last structure. However, according to the technicals, the larger the timeframe, the clearer it becomes.
BTC has clearly done an MSB (Market Structure Break) on the monthly timeframe. Yes, quite different to hear, but you can’t ignore the technicals.
So, what to do?
A correction is due, and I’m expecting BTC to sweep $82,400 before a correction that could extend to the $72,500–$69,000 zone. Those were the zones I was targeting for my short, but unfortunately, I got the SL.
And those are the exact same levels on the Fib 0.5 and 0.62 zones, which I marked earlier.
Most of my spot purchases, I’m still looking at those levels. After that, BTC sets all the way for a new higher high on the monthly timeframe.
And this very much confluences with the USDT dominance chart.
I will share the chart with you. That exact $82K–$83K level breakout means the dominance is going to break the major support, and BTC could go all the way to an ATH.
@ZED Signals
#BOJRaisesRatesTo31YearHigh
#BTCBreaks80K #BTCUSDT #BitcoinDunyamiz #Write2Earn!
