BTC (Long) (23.03.2025)Market Update & Outlook:
Over the past two days, we've seen BlackRock’s ETF start buying back in, which is a positive signal. However, the market remains volatile. I recently experienced a pullback shortly after entering, and after further analysis, there are a few key points worth noting:
There’s a lot of liquidity and trapped traders around the $96,000 level, which could attract price action upward in the short term.
On the daily chart, we can see money starting to flow back in, and there's visible support around $76,000.
It’s possible this is forming a “wake-up” pattern, potentially pushing price toward the $96K zone before any further downside.
If we don’t reach $96K and break the current channel, I expect a move down to around $70,000, with $69,962 as my next target.
Fundamentally, there isn’t much new flow on spot markets or other key metrics yet, but the ETF activity is encouraging. Most traders are still leaning bearish, which could fuel a short squeeze — and I prefer not to trade with the herd.
Let me know what you think or if I missed something!
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