BITCOIN BTC price is at a crossroads. Where to "go" next?

Feb 16, 2023

The BTCUSDT chart shows a rather interesting and at the same time ambiguous situation.

Those who have been following us for a long time may have noticed that most of our ideas have been longs recently. Moreover, many of the published coins in the ideas have achieved their goals, having managed to show growth of +50% - 100% and more in a few months.

And it would seem that after yesterday's powerful green candles, other thoughts such as "all-in long" should not be in your head, but not everything is so clear:

• The first thing that catches your eye is the abnormal growth of Bitcoin's price on the same abnormally small and declining volumes.
  Just compare the efforts made by buyers when they were breaking out of the liquidity zone in mid-January. There was a lively, real market there, a struggle between buyers and sellers.
  
  
• Above $25,200 is the last bastion of protection for shorts, and there is no struggle, it's not natural and smells like some kind of deception...
  
  
• The US CPI came out worse than expected, the SP 500 does not show active growth, and the crypto market is growing at a frantic pace.
  
  
• The situation with the SEC, Paxos (BUSD), and Binance is not fully understood, which is negative, but the crypto market is growing...
  

The only thought-explanation for the situation that we can think of is that $16 billion of the 3rd largest BUSD stablecoin by capitalization is flowing into BTC, altcoins.... But soon, fixation back to the stablecoin, for example, USDT, and, accordingly, active sales of BTC and altcoins may begin.

What are your thoughts on the situation in the crypto market?, please share them in the comments below the idea.

As we wrote in our previous ideas, the closer the BTC price is to the critical level of $25,000, the more long positions we will close and fix profits.

And what's next? We want to watch how the situation unfolds, because at least for us, there are a lot of "unknowns" to making trading decisions:

• If the BTCUSD price manages to gain a foothold above $25200, there will be more confidence in longs until the next liquid zone of $28-32k.
  
• If the crypto market starts to correction in the near future, we will look for local entries into shorts. And globally, we will place orders to enter medium- and long-term longs in positions in the wide liquidity buy zone of $18-21k.
  

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Feb 17, 2023

Note

The buyers managed to hit the stops of "shorting man" that were hidden above $25200, and then the red scenario was activated.

Our suspicions that something bad is coming to the cryptocurrency market are being justified.
So, by Monday, according to the red scenario, we expect the market to move to $22000.
And then we can update the idea, of course, if you are interested in our thoughts.
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