Bitcoin reacted at the 886 level as shown in last outlookbut came right back up, ignoring every potential sell zone in its way and is now about to break the area. Some kind of "disbelief" move is very likey to happen at this point with a quick rally to 30k as a very important psichological level and has many fibonacci confluence. Overall market sentiment still...
Last idea playing out, nice initial reaction at the 886. Would expect a pullback soon, a lot of liquidity and imbalances to be potentially filled. If we lose 21k, it's gonna be a staight path to 16-18k. Still bearish onthe macro, 2023 doesnt't look greatfor economy overall, don't think crypto will be different.
Looking forthe dollar to get stronger here in the next few weeks which would contribute to the crypto market finally bottoming out. March will be a pivotal month, thinking is when the bottom will come.
First outlook on previous analysis turned out to be wrong, but the overall idea is very much valid: BTC is now hanging around supply area/886 retracement level and losing momentum, RSI showing heavy divergence. I wouldnt't expect prices to go balistic in 2023 with recession coming and goverments doing all kinds of crazy stuff. This could very well be the top of...
Possible failed swing that tops around 22k, filles imbalance and then leads to new lows. More pain to come.