🚨 IS $BTC THERE A 5-DAY GREEN TREND ENDING, IS THE ADJUSTMENT PHASE HEALTHY AROUND THE $70K MARK?
Looking at the two data images today, we have a very harmonious synchronization between performance statistics and price behavior on the technical chart.
📊 Market data breakdown:
- After a slight liquidation on March 8th, BTC had a spectacular surge with 5 consecutive days of positive growth. However, moving into today, weekend profit-taking pressure has emerged, pushing the daily profit back into the red at -0.38%.
- The chart is accurately reflecting this rhythm. After creating a local peak in the supply zone around the $73,000 mark, the price is trending towards a short-term reversal and retreating to lower support zones.
- Currently, BTC is trading around the $70,653 mark and is right at a very important Order Block.
💡 Perspective from the Tis channel: A necessary stop to catch a breath!
- It is completely normal and necessary for a financial asset to adjust after 5 consecutive days of growth to "refresh" the cash flow. The slight drop from $73k to $70k is actually helping to shake off those players who used excessively high leverage to FOMO into the peak yesterday.
- As long as BTC remains solid above the core Demand Zone areas (such as the current $69,000 - $70,000 mark) and does not create structures that break the bullish trend on a larger time frame, then this is simply a pullback for the Long side to gain momentum. The crowd panics at a red day, but smart money always knows how to seize these correction phases to pick up more assets.
Have you guys made any plans for this weekend's shakeout?