I had called for $60k BTC but then we happened to get an unexpected extra bull bounce in the middle that put us on a slightly higher descent. Now we seem to be somewhat channelized on our way down to the ascending trendline that will likely catch us and start our trip back up, around $61k depending on when we hit it. There is a circle drawn, once we see BTC price hit that support, it seems likely a good entry for most crypto though each alts chart should be reviewed independently to validate that they too have found support.
Most alts charts should mimic BTC for the most part but I do see some that this pullback caused them to break their support and so it will be a harder recovery for them.
Futures orderbooks are also starting to build with trader speculation of price rise from here with a lot of support for 67K and $75k BTC in the orderbooks. Additionally looking at global orderbooks on coinmarketflow, the books are choppy but trying to recover with steady bids and growing asks at 10% or greater from current ask, also supporting the idea we are trying to recover but that the orderbooks still havent stabilized yet. Seems we are close but not quite there yet.
In the event that we see BTC break that ascending support line at 61k, it could spell a much greater pullback, I havent analyzed the charts past this because it would be unexpected. If we break that support I will put out a new write up based on what I see.
This is likely a pretty good opportunity but you should do your own research and arrive to the conclusion of how to best take advantage of it on your own.
Most alts charts should mimic BTC for the most part but I do see some that this pullback caused them to break their support and so it will be a harder recovery for them.
Futures orderbooks are also starting to build with trader speculation of price rise from here with a lot of support for 67K and $75k BTC in the orderbooks. Additionally looking at global orderbooks on coinmarketflow, the books are choppy but trying to recover with steady bids and growing asks at 10% or greater from current ask, also supporting the idea we are trying to recover but that the orderbooks still havent stabilized yet. Seems we are close but not quite there yet.
In the event that we see BTC break that ascending support line at 61k, it could spell a much greater pullback, I havent analyzed the charts past this because it would be unexpected. If we break that support I will put out a new write up based on what I see.
This is likely a pretty good opportunity but you should do your own research and arrive to the conclusion of how to best take advantage of it on your own.