👀 Liquidity collection before a stronger drop on $BTC ?
It would be funny if this rise in Bitcoin was just a liquidity collection before a stronger drop.
Signs to watch for:
1. Resumption of hostilities between the USA and Iran.
2. Break of trend support
3. Drop below MA100
4. Drop below MA50
This rise occurred on hopes of a ceasefire between the USA and Iran this weekend. There is no ceasefire, the Strait of Hormuz is closed, Yemeni Houthis have stated they will also close the Bab-el-Mandeb Strait. Panic in the markets will give Bitcoin a good downward momentum. Next week will be interesting.
#BitcoinPriceTrends
It would be funny if this rise in Bitcoin was just a liquidity collection before a stronger drop.
Signs to watch for:
1. Resumption of hostilities between the USA and Iran.
2. Break of trend support
3. Drop below MA100
4. Drop below MA50
This rise occurred on hopes of a ceasefire between the USA and Iran this weekend. There is no ceasefire, the Strait of Hormuz is closed, Yemeni Houthis have stated they will also close the Bab-el-Mandeb Strait. Panic in the markets will give Bitcoin a good downward momentum. Next week will be interesting.
#BitcoinPriceTrends