BTC - Zone Consolidation Likely
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Hi Everyone
A quick update on BTCUSD. Unfortunately we did not have enough strength immediately to capture 50k-52k zone, even before the attempt some of the alt markets were drained for liquidity, indicating a brief shift in focus for whales. Currently we may see a small pullback after which I think some consolidation is likely in the zones discussed. As long as BTC holds the zones, a shift back to alts are likely.
In the 30min we see an expansion of the BBands to the downside:
HOWEVER, I am not bearish at this point. I would not be surprised if we see another short squeeze like we did a few weeks ago after the market turned predominantly bearish. From the 1W perspective, we are still in a bull market: (Notice how pullbacks and corrections are put into perspective)
Thank you for watching
BlockTechEv
A quick update on BTCUSD. Unfortunately we did not have enough strength immediately to capture 50k-52k zone, even before the attempt some of the alt markets were drained for liquidity, indicating a brief shift in focus for whales. Currently we may see a small pullback after which I think some consolidation is likely in the zones discussed. As long as BTC holds the zones, a shift back to alts are likely.
In the 30min we see an expansion of the BBands to the downside:
HOWEVER, I am not bearish at this point. I would not be surprised if we see another short squeeze like we did a few weeks ago after the market turned predominantly bearish. From the 1W perspective, we are still in a bull market: (Notice how pullbacks and corrections are put into perspective)
Thank you for watching
BlockTechEv
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