BTC has to hold this level in the short term
Currently the 1 hr 200 SMA is acting like resistance (again). Every time this has happened since the pump from 28k, we fall back to the previous 4 hr support when we fall below the 1hr 200 SMA. That support level is now 36k (thick horizontal line). If we fall to previous support and don't get a bounce, then 33k is much more likely.
Keep in mind that a correction that breaks trend will happen swiftly. Be prepared. No huge trades with high leverage without tight stops.
Of course this could all change in a second! Short positions are building above $5-6 billion on Binance at the time of this post according to Hyblock. Market Makers go where the liquidity is so if there are enough short positions, we may get another short squeeze.
Good luck out there.
Keep in mind that a correction that breaks trend will happen swiftly. Be prepared. No huge trades with high leverage without tight stops.
Of course this could all change in a second! Short positions are building above $5-6 billion on Binance at the time of this post according to Hyblock. Market Makers go where the liquidity is so if there are enough short positions, we may get another short squeeze.
Good luck out there.