BTCUSD requires a major correction
We need a major correction leading to amounts between $35050 to 34350. If we break these supports, we could even reach key supports like 33500 or 31000.
In the case of Bitcoin, its correction is closely related to inflationary effects but beyond the fundamentals, the market structure can anticipate that, although we are in a bull market, we need liquidity that exceeds the level of 38 to reach 40 or 45 with the coming up wave cycle.
It is to be hoped that the correction in BTC will facilitate the liquidity necessary for this task, since it is the objective of the vast majority.
I firmly believe that Bitcoin is gearing up with tremendous momentum to achieve this projection. We will see in the coming days how far we can go.
In the case of Bitcoin, its correction is closely related to inflationary effects but beyond the fundamentals, the market structure can anticipate that, although we are in a bull market, we need liquidity that exceeds the level of 38 to reach 40 or 45 with the coming up wave cycle.
It is to be hoped that the correction in BTC will facilitate the liquidity necessary for this task, since it is the objective of the vast majority.
I firmly believe that Bitcoin is gearing up with tremendous momentum to achieve this projection. We will see in the coming days how far we can go.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.