🤑 $BTC REVIEW
Haven't posted a crypto market breakdown in a while and a lot has happened since then...
After my last post, where I said $BTC sell-off was much closer than most expected, market lost more than 20% of its value, dropping to $59k
Liquidity that had been building for over 3 months was wiped out in just 96 hours...
What do I expect long term?
On a macro level, market has swept one of the most important liquidity pools of past few months, but I still expect further downside before cycle bottom is finally in
My current bottom zone remains around $35k-$42k, although I'll start aggressively accumulating $BTC for a 2-3 year hold once we reach $50k area
Whales are still distributing heavily, but I think a major wave of FUD will be needed to trigger kind of panic required for next leg lower
What about short term?
So far, we've formed a deviation from 1D HTF range and I'd like to see a bounce into 0.5 Fib zone ( $69k-$71k ), fill major FVGs and then continue move below $50k
For now, I'm still waiting for LTF Order Flow confirmation before looking for a local long entry
This summer is going to be interesting
Stay cautious and don't rush into trading decisions...
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