📊$BTC MARKET UPDATE
Even if Bitcoin continues lower on the lower timeframes, I expect a relief rally first. 📈
We just swept a major liquidity zone at the recent lows, and these moves are often followed by a temporary bounce before the next directional move.
If BTC is still destined for one more leg into the low $50K region, a short-term recovery wouldn't be surprising.
We've seen similar price action before. Prior to the FTX collapse, Bitcoin rallied on the lower timeframes before making its final flush.
Even if Bitcoin continues lower on the lower timeframes, I expect a relief rally first. 📈
We just swept a major liquidity zone at the recent lows, and these moves are often followed by a temporary bounce before the next directional move.
If BTC is still destined for one more leg into the low $50K region, a short-term recovery wouldn't be surprising.
We've seen similar price action before. Prior to the FTX collapse, Bitcoin rallied on the lower timeframes before making its final flush.