BitcoinLong
🔥 Bitcoin Short-Term Analysis: Bounce From Support
Updated
BTC has been trading rather erratic over the last couple of days. Contrary to popular belief, this price movement is not really bearish in the short-term.
As long as we're making higher-lows, there's nothing to really worry about. For now, I think there's a decent probability that we're going up towards the yellow marked area.
After reaching the yellow resistance zone, things remain unclear. As long as stocks are not showing us strength there's low expectations for BTC.
As long as we're making higher-lows, there's nothing to really worry about. For now, I think there's a decent probability that we're going up towards the yellow marked area.
After reaching the yellow resistance zone, things remain unclear. As long as stocks are not showing us strength there's low expectations for BTC.
Note
Yup, this did not age well. Once Asian markets opened we dumped hard due to contagion fears with Silvergate potentially going bankrupt.theguardian.com/technology/2023/mar/02/near-50-per-cent-fall-in-silvergate-shares-over-ftx-exposure-prompts-survival-doubts
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