I’m expecting a ranging market for a couple of weeks or even months before breaking below 60K, but I’m closely monitoring geopolitical developments.
I may change my thesis if we see any fundamental changes
We’re seeing some crazy price action on Bitcoin. I’ve seen this kind of behavior many times before, and when the price moves like this, it often signals that a major move is coming.
Now, could that move be to the upside?
First, there’s no significant liquidity left above. We’ve already taken the range highs liquidity, and we’ve also retraced 50% on the daily. The only thing left above is some pending FVGs that’s it.
Meanwhile, we’re building significant liquidity on the downside.
Second, the macro situation looks very bad. Iran reportedly shot down two US jets today, and the escalation is intensifying rapidly. I’ll keep you updated if anything changes