Thread by @urus1369

$btc #bitcoin is suffering from a mini-dump this past couple of days.

ATM, we're trading above the $22,630 level.

On the 1D chart, though, it does not look like structure was broken.

Instead we're trading inside the range we've been in for the last 2 weeks or so

Let's look at $btc on the 4H chart now

Basically, on the 4H, I'm looking at 4 scenarios;

This is the first scenario - looking for a dip into the FVG, then we get another let up.

Which might be the last leg of this rally before a deeper retracement.

The second scenario would be something like this:
A bearish continuation scenario.

Retest of $23,058, then further downside.

Very plausible. In this case I expect we test at least $22k if not the $21,500 area...

Third scenario for $btc #Bitcoin

This would be the most optimistic, bullish one:

PA back above $23,058, retest & confirm as support, rally higher.

We'll have to observe the markets to determine how probable this is.

It really depends on how people ape into longs.

If there's FOMO longing $btc at this level, the MMs will drive price to liquidate those longs.

Again and again, until people stop FOMO longing. Then I believe we can go up.

As long as peeps market long #Bitcoin 100x at current price levels, they're gonna be hunted/liquidated

The rest of the #cryptomarket followed suit and dumped.

$egld #MultiversX is keeping steady.

After having a +10% move last week, $egld retraced ˜50% of the move.

The 0.5 Fib of that move comes in at $44.23 which, as we can see, held up quite nicely

We must now close on the 4H > $45

for $egld to have any chance of a bullish continuation.

Otherwise we may go further down, to $43 - $43.5 to find support.

If that support area is lost, we go back below $42...

Let's look at $eth #Ethereum now...

Stuck in a range for quite a while, same as $btc

The levels we had on our charts for 2 weeks now working brilliantly, as you can see

#eth holding it's 0.5 0.618 area of the Fib retracement,

Therefore it is likely we have bullish continuation form here if $1,608 holds as support. We might even be heading to $1,800 if it does.

But, I want to repeat these are just probabilities...

Aaand... it's all contingent on what $btc does!

Finally, I wanna look at $SPX on the Daily.

Take a look at the chart below:

Zoomed out & zoomed-in

IMHO, I believe this kinda starts to look like exhaustion.

Therefore if we do get another leg up in #crypto... Pump may be nearing its end

So... Be careful out there 🙏🚨‼️

If you like this kind of analysis follow me @urus1369

And, remember! A RT + ❤️ gets u some high 5s from Satoshi 🙏

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