$BTC is back at the $67,000 level.
Middle East situation is still escalating, which is bad for risk-on assets.
As long as Bitcoin holds the $66,000 zone, there's a good chance of a pump towards the $72,000-$74,000 zone.
🚨 #Bitcoin Bullish Retest 🚀
$BTC just broke bullishly out of this price-compressing formation
Now retesting previous resistance as fresh support
This could be the start of a MASSIVE reversal! Bull run loading? 👀
#Bitcoin#BTC#Crypto
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Every $BTC bear market in history has bottomed below the 0.618 retracement level - with every bear being shallower than the one before it.
We could be close to the bottom, but I don't think we're there just yet.
Patience.
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It looks like the actual $BTC decision is still loading and the volatility of the past few days happened within this pennant.
What do we think, chat. Continuation downwards or breakout to the upside?
The person who bought Silver at 100 believing it will go to 200 is now saying they will double up at 55
but
they will puke out of everything at 60
Mark my words
It happens every time
The psychology of trading never changes
$BTC
The irony for bulls is that a breakout here is the worst thing that could happen for the chart.
It sounds contradictory, so let me explain this carefully.
This range has now been developing for 25 days.
25 days of ranging doesn't build enough cause to reverse a 5 month downtrend which has wiped 55% off the chart.
The longer a range develops, the bigger the move that follows. This range hasn't earned a reversal.
What bulls should actually want here is for price to stay inside this range for months. Build cause. Build a base worth breaking out of.
Will we get a short term pump? Probably. But a pump out of a 25 day range isn't reaching ATHs.
These are the moves that get everyone bullish right at the wrong time. Price pops, sentiment flips, people call the bottom, then it rolls over because the momentum was never there to sustain it.
25 days doesn't reverse 5 months. 🤟
$BTC JUST PRINTED TEXTBOOK DEATH CROSS
HISTORICALLY, THIS INDICATOR PRECEDES BIG DUMPS
LAST TIME IT HAPPENED IN 2022 -> BITCOIN DUMPED -51%
DO NOT GET SHAKEN OUT!