I'll be truthful I don't think the expression "long squeeze" is a real thing - but it should be!
Daily TF
Next level down i think is 98K should the local support @ 102K break.
0.5 fib puts us at 89K / a touch on a macro uptrend / touching a key price point where BTC has oscillated for several months. This move would accomplish a liquidity grab and fill a fair-value-gap. If this happens it could be a fantastic long opportunity.
If prices sees continuation to the downside the 618 would be the next natural retracement level but would result in a break below said macro uptrend and thus could create a macro bearish move - 67K would be my guess.
Daily TF
Next level down i think is 98K should the local support @ 102K break.
0.5 fib puts us at 89K / a touch on a macro uptrend / touching a key price point where BTC has oscillated for several months. This move would accomplish a liquidity grab and fill a fair-value-gap. If this happens it could be a fantastic long opportunity.
If prices sees continuation to the downside the 618 would be the next natural retracement level but would result in a break below said macro uptrend and thus could create a macro bearish move - 67K would be my guess.
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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.