My idea is that BTC will make a pump to R2 $48,000-49,000 region then retrace and smash through R1 which was previous support at $44,000-47,000.
Once it loses R1 then the next target is at S1 at $40,000-42,000 and I could see BTC potentially pulling back to $35,000-38,000 at S2 and scaring a lot of retail out of the market.
Markets are moved by emotions, so do not get emotional. From my experience I have learnt that is best to zoom out sometimes so you have a different perspective.
The current market has fear because the funding rate is low, when the funding fee is high the market goes parabolic.
The current BTC network is growing because it has a lot of transactions, well the leverage is down.
This is normally a "Accumulation Phase" sign to BUY and go LONG.
Whales BUY when others are Fearful and sell into Euphoria at the end of the Parabolic move to retail who FOMO in, don't be the ones who FOMO.
Not financial advice and for educational purposes only.
Safe trading.
Once it loses R1 then the next target is at S1 at $40,000-42,000 and I could see BTC potentially pulling back to $35,000-38,000 at S2 and scaring a lot of retail out of the market.
Markets are moved by emotions, so do not get emotional. From my experience I have learnt that is best to zoom out sometimes so you have a different perspective.
The current market has fear because the funding rate is low, when the funding fee is high the market goes parabolic.
The current BTC network is growing because it has a lot of transactions, well the leverage is down.
This is normally a "Accumulation Phase" sign to BUY and go LONG.
Whales BUY when others are Fearful and sell into Euphoria at the end of the Parabolic move to retail who FOMO in, don't be the ones who FOMO.
Not financial advice and for educational purposes only.
Safe trading.
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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.
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.