Thoughts & Plans on $BTC and the Market:
Feels like we're coming up to an inflection point.
Both price and volume on $BTC hasn't been as compressed within this range as it is right now.
This usually leads to a big move.
1/12
Feels like we're coming up to an inflection point.
Both price and volume on $BTC hasn't been as compressed within this range as it is right now.
This usually leads to a big move.
1/12
Bearish Case 🐻
I've mentioned this before, but if $BTC were to go back to 30K, I doubt it holds again and I would be looking at $23-26K.
This is where I'd be buying more spot from some of the fiat profits I took out during this run.
2/12
I've mentioned this before, but if $BTC were to go back to 30K, I doubt it holds again and I would be looking at $23-26K.
This is where I'd be buying more spot from some of the fiat profits I took out during this run.
2/12
I am doing this because I'm personally a long term believer in $BTC and Crypto as a whole and I would be very comfortable buying BTC at such prices and just holding it for the next few years to come.
This is obviously my personal preference and no financial advice.
3/12
This is obviously my personal preference and no financial advice.
3/12
Breaking down from this range would mean we're getting a much longer drawn out consolidation/bear market throughout the summer. I don't see price trade within the mid 20Ks for a few days only to reverse right after.
It would likely take several weeks/months.
4/12
It would likely take several weeks/months.
4/12
After which I do think we'll go much higher again towards the later part of this year. But that's just my guess.
All in all, whatever happens I'm not worried and If anything, spot buys around these levels are much better R:R than selling hoping to buy back lower.
5/12
All in all, whatever happens I'm not worried and If anything, spot buys around these levels are much better R:R than selling hoping to buy back lower.
5/12
Bullish Case 🐂
The bulls should have absolutely no reason to get back to the range lows ($30K) yet again, after sweeping it and then retesting it afterwards.
If we want to see a bullish continuation, I think this should happen as soon as possible.
6/12
The bulls should have absolutely no reason to get back to the range lows ($30K) yet again, after sweeping it and then retesting it afterwards.
If we want to see a bullish continuation, I think this should happen as soon as possible.
6/12
What also helps with this idea is the fact that those range highs at $42.5-43K are STILL untouched. This doesn't have to happen of course but it would be a great place for a huge liquidity grab.
All while funding has been negative for most of this range.
7/12
All while funding has been negative for most of this range.
7/12
Lastly, not particularly bullish nor bearish at this point, but the daily RSI has been touched (and rejected) about 6 times now.
It looks like BTC is really trying to break through but to no avail so far.
8/12
It looks like BTC is really trying to break through but to no avail so far.
8/12
To summarize: I do think we're getting close to that deciding move within this range.
If $BTC breaks down, that likely stretches out this entire consolidation/bear market however you want to call it for a few more months before going up again.
9/12
If $BTC breaks down, that likely stretches out this entire consolidation/bear market however you want to call it for a few more months before going up again.
9/12
If $BTC breaks out of this range we may have the luxury to slowly look at 50-60K prices again a lot sooner.
10/12
10/12
I'm personally just sitting tight in my spot. Trading $BTC & alts to stack sats and will buy more spot $BTC IF we do go lower.
If you do want to trade, check out PrimeXBT who I am partnered with: u.primexbt.com/DaanCrypto
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11/12
If you do want to trade, check out PrimeXBT who I am partnered with: u.primexbt.com/DaanCrypto
Use Promo Code: "DaanCrypto" for a 50% bonus.
11/12
Whatever happens, there is a plan in place.
And one positive thing to take away from these low prices if you're still holding is that relatively, the downside should be limited here compared to the highs we were at a few months ago.
Take care and have a good day! 😄
12/12
And one positive thing to take away from these low prices if you're still holding is that relatively, the downside should be limited here compared to the highs we were at a few months ago.
Take care and have a good day! 😄
12/12
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