if you think Bitcoin will continue upwards, that box may be a good place to build a low leverage 2-3x long
Bitcoin is making its final wave down. Not expecting many sellers below 30k so any breach below the blue line should lead to an explosive price action upwards, bringing an end to this deep correction. The buy box will look like an ideal entry in the rear view mirror soon IMO
Still Macro Bullish, Bitcoin needs to move out of this death range to behave healthy again. Two likely scenarios discussed
pump followed by relentless bleed, BTC needs to leave this graveyard zone to behave healthy again
Bitcoin bleeding & going for its final leg down. Expecting any price action below the pink line to act as spring
Bitcoin could possibly go for 1 last flush down, break the pink line, tap into that 27k liquidity & bounce hard
Bitcoin is trending on smaller timeframe, volume flowing in, could lead to trend reversal & continuation of bull run on higher timeframe
Ethereum is holding on to its daily trend, eager to resume bull run after the skies are clear, one of the largest ETH outflow from Coinbase happened today
Bitcoin is acting bouncy, volume starting to flow in, a strong trend at this point can flip the market sentiment quickly
bitcoin is on a parabolic run, this is the kinda trend where you don't wanna guess the top, btc has a habit of exceeding expectations, on the 4hr it hasn't touched the green band in 35 days! & is up 40% since last time it did. Same enthusiasm can be seen on the 1min chart. Anything is possible.
OBSERVATION: Bitcoin could very well pull up from here, go sideways, but overall this 5 month run needs a healthy dump. Maybe 10k region? it would be a steal at 8k.
OBSERVATION : We are in indecisive market, expecting an attempt to push up soon. But don't expect it to hold above 12500 for now.