BULLS IN THE HOT SEAT
We need to close some higher timeframe candles above 61,252 to get BTC back in heavy volume range we've been trading in since February.
If we dont re-claim this value area, its going to get ugly. If the re-claim is successful then we'll shoot for 67k POC, if successful, then we shoot again for the 71k highs , then MAYBE a new ATH.
My personal opinion
If you want to go long, dont get smoked trying to get in early before everyone so you brag about it :) ,wait for btc to be accepted back in the value area, atleast above 61252. This is the only time i can suggest bull have some control, else the short term downtrend will continue until we get another bullish catalyst.
If feds finally cut rates as we the whole market has been drooling for, this is i believe would be the best catalyst for the bulls and we may likely see an ATH if that happens. However short lived it may be.
UNTIL THEN ..I'll be neutral and will only short when the opportunity arises after a rejection.
If we dont re-claim this value area, its going to get ugly. If the re-claim is successful then we'll shoot for 67k POC, if successful, then we shoot again for the 71k highs , then MAYBE a new ATH.
My personal opinion
If you want to go long, dont get smoked trying to get in early before everyone so you brag about it :) ,wait for btc to be accepted back in the value area, atleast above 61252. This is the only time i can suggest bull have some control, else the short term downtrend will continue until we get another bullish catalyst.
If feds finally cut rates as we the whole market has been drooling for, this is i believe would be the best catalyst for the bulls and we may likely see an ATH if that happens. However short lived it may be.
UNTIL THEN ..I'll be neutral and will only short when the opportunity arises after a rejection.
You are always 1 trade away from life changing profit.
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