ABSOLUTE BTC UPDATE!!!
I charted out possible bounce zones
1st 62500-66000 confluence with 0.78 fib
2nd 61000 this is my preferred zone, it sits just under a big leveraged liquidation zone, quick dip under and reclaim would ne a trigger
3rd and last and least preferred 57800 -SFP
A little something that's not mentioned, and ppl may not even think about:
Binance did not borrow money
Binance did not sell assets
Binance did not raise money
Binance covered from its balance sheet.
This differs from other incidents that people keep wanting to compare to. 🙏
There needs to be a rational mind through this region.
I've read some absolute shit this week on the market.
If this was a 5m chart on $ETH you'd only look for longs. You'd love this retest.
Because it's a Weekly and you're diving between LTFs you somehow lose focus that this is a market that looks incredibly strong.
People have been comparing to Gold and Tradfi - "lmao look how weak crypto is, what bs, it's cooked."
ETH is up +280% in the same time period that gold is up +12% (4 months.)
If you can't handle corrections and retests during uptrending markets and flip bearish, you've not learnt anything during your trading journey.
Close below the Weekly level, sure change your argument, but you sure as shit shouldn't be looking at that outcome as the primary.