$BTCUSDT had formed a cup and handle pattern and it is bullish in the long run. However, we didn't have any retracements for a long-time.
I've drawn support lines (green lines). volume profile helped me to see where people are willing to buy at.
1-Pushes followed by retraces are healthy for the market.
2- I think the pushes that we made are driven by pumps from Elon and some hedge funds if that repeated on the following days the retracements will be in short duration.
3-Accumulations/distribution ratio is v. good tho we won't see a major bearish trend.
4. "History repeats itself" March has always been bearish.
Get ready to buy your $BTC at a better price on the following days.
I've drawn support lines (green lines). volume profile helped me to see where people are willing to buy at.
1-Pushes followed by retraces are healthy for the market.
2- I think the pushes that we made are driven by pumps from Elon and some hedge funds if that repeated on the following days the retracements will be in short duration.
3-Accumulations/distribution ratio is v. good tho we won't see a major bearish trend.
4. "History repeats itself" March has always been bearish.
Get ready to buy your $BTC at a better price on the following days.