Long

Bitcoin & Ethereum is it really going to crash?

We experienced another sell-off in cryptocurrencies, bringing BTC back below 59K. As a reminder, we still have a second limit set at $55,236 for a Bitcoin swing trade, and we plan to hold this position as we approach this level. This limit has been in place for several months, and sometimes patience is required. Our limit is precisely at the 24 Q1VWAP and 21 VAH, aiming to capture the resting liquidity below the recent low in May.

For ETH, we are watching the 22 Q1VWAP and 21 Q3VWAP levels to hold, as they have successfully done so four times previously. This would be a favorable retest, potentially leading to an attempt to reach the range again.

With both BTC and ETH, we are anticipating the end of this sell-off, considering potential spot purchases in BTC and some altcoins if they experience another (maybe last) downward move.

stromm_by_wmc

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