BTC - Update on my Short and Critical moves to watch for

This is a critical time for Bitcoin and that’s because of the US Dollar. DXY has shown a major breakdown on the 3 month chart, and is undergoing a bearish retest.

Here’s some crucial moves and pivots to watch for to determine where Bitcoin could go.

IF BTC STAYS BELOW 60,500 to 60,700

This is a more local bearish trendline on the daily and you can watch for a drop to 35,000.

There is a major bearish trendline at 43,000 that is a key level to understand.

If Bitcoin drops below the 43,000 level, I expect a zig zag pattern to form as follows:

60,500 to 35,000

35,000 to 43,000

43,000 to 8,000

Understand that what DXY is showing is an extended bull run ranging out 1-2 years. This is very significant as the market would have minimal time to recollect liquidity in these low zones. Therefor I am not ruling out anything as impossible so long as the chart is supporting it.

IF BTC RISES ABOVE 60,800

Watch for a rejection at 61,400 to 61,600 which is another potential bearish trendline that points down to the same lows around 10,000.

A rejection here is an indication in the intention to play this out.