Bitcoin crash back to $74,000I hope the chart is self explanatory as don't want to make this long. I added some trendlines for the visual learners.
Bitcoin did not meets its monthly correction target of $74000, we pump right before...Its not very wise to buy randomly- You want to buy at a key level for higher probability...If the bull run ought to continue. Don't you think for such a big move its more likely to react from important key levels where most the demand is waiting?
2ndly the weekly tf is still bearish. We flipped bullish on daily but price is high and struggling to clear 85k.
4hr already flipped back bearish.
Next point is that there is still a lot of uncertainty around tariffs, while market is not reacting to tariffs news as strongly as it did before its still factor of uncertainty. An important factor
Next point. In yesterdays Speech by Jerome powell he clearly stated that inflation likely to rise due to tariffs he also clearly stated they not ready to jump in and 'save the stock market' And he said they not looking to make any adjustments to interest rates at the moment. They still playing it cautious-waiting on more data.
For me the likely bottom signal when it comes to fundamental will be the lowering of interest rates.
On the bullish side, gold been making ATHs on a regular now and many are starting to speculate that bitcoin is next...that's a possibility but so far we haven't seen any strong sign of that narrative playing out in the chart.
I think this is 1 final trap before the actual continuation of the bull-run. For invalidation -I would like to see a very clear breakout out on the day and weekly closing above 89k with volume confirmation.
I called bitcoin top from December of last year with target of $74000. And its still in effect.
Now, let's see if am right again. I believe I am.
