Guy’s, major update for $BTC back above 74,000$, but my target for the 38,000$ zone remains intact and is looking more realistic day by day when we look at the overall trend.
Right now, above 74,000$, we have a perfect Fib OTE for a short setup from 75,300$. If this plays out, it would validate the bearish flag breakdown along with the retracement, opening the path toward 50,000$ as we discussed earlier.
All eyes are on the 75,300$ zone. A 4H closing below that level would make this setup valid and keep the downside target toward 38,000$ in play. The only thing that could temporarily invalidate this move would be highly positive developments or statements from Mr. T. Other than that, I still believe BTC will be trading below 50,000$ either this month or next month. Mark my words.
@Crypto_LUX use macroeconomics to find direction. One or two green candles can’t change my bias or trap me into an SMT move.
Let’s see how the market reacts from here.
While $LAB trading over 7.8$ now! a new high... riding this all the way to 10$