🚨⚠️ BTC Pumps, But the Real Signal Is Still Bearish 🚨⚠️
US inflation remains at 3.4%.
The surprising thing is that this isn’t really the kind of data that should have a major positive or negative impact on the market.
However, if we look at today’s BTC volume, it is actually normal roughly the amount of volume we would normally expect on a daily candle. This should make it clear that, based on volume, the pump we are seeing isn’t really justified.
Even so, this pump has been a very effective way of grabbing liquidity. As soon as long traders around $76K started getting liquidated, BTC showed an impressive pump.
But despite this pump, I am still not bullish on the market.
As far as interest rates are concerned, I expect rates to either remain unchanged this time or potentially be increased. The question of rate cuts doesn’t even arise at this point. In my opinion, people opening long positions between $75K and $80K are making a very risky decision.
If news comes out that rates are not being cut, we could immediately see a sharp decline. That could also bring strong selling volume into the market, and the drop could happen even faster than the previous dump.
I am still bearish because I understand these kinds of market narratives very well, and they can also be used to understand how market manipulation works.
According to my analysis, BTC should eventually move lower. It could possibly push toward $81K–$83K, or in the worst-case scenario, even around $85K. But I don’t think it would stay there for long. BTC has already visited the $82K area before, so in my view, a drop could come very quickly after that.
So if you are thinking about opening a long trade right now, I would consider that a very risky decision. I would personally stay away from long trades for the time being because I believe BTC could drop very soon.
If anyone needs guidance, they can let me know.
#crypto #btc #ethereum
US inflation remains at 3.4%.
The surprising thing is that this isn’t really the kind of data that should have a major positive or negative impact on the market.
However, if we look at today’s BTC volume, it is actually normal roughly the amount of volume we would normally expect on a daily candle. This should make it clear that, based on volume, the pump we are seeing isn’t really justified.
Even so, this pump has been a very effective way of grabbing liquidity. As soon as long traders around $76K started getting liquidated, BTC showed an impressive pump.
But despite this pump, I am still not bullish on the market.
As far as interest rates are concerned, I expect rates to either remain unchanged this time or potentially be increased. The question of rate cuts doesn’t even arise at this point. In my opinion, people opening long positions between $75K and $80K are making a very risky decision.
If news comes out that rates are not being cut, we could immediately see a sharp decline. That could also bring strong selling volume into the market, and the drop could happen even faster than the previous dump.
I am still bearish because I understand these kinds of market narratives very well, and they can also be used to understand how market manipulation works.
According to my analysis, BTC should eventually move lower. It could possibly push toward $81K–$83K, or in the worst-case scenario, even around $85K. But I don’t think it would stay there for long. BTC has already visited the $82K area before, so in my view, a drop could come very quickly after that.
So if you are thinking about opening a long trade right now, I would consider that a very risky decision. I would personally stay away from long trades for the time being because I believe BTC could drop very soon.
If anyone needs guidance, they can let me know.
#crypto #btc #ethereum
