I didn’t want to jump to conclusions, so I waited for the NY open to see how the market would react — and so far, things don’t look bad at all. 🤔
Yeah, that previous-week correction wasn’t fun, but honestly, it’s perfectly healthy price action.
Thanks to that sharp drop, #Bitcoin managed to:
✅ Fully close the CME gap ;
✅ Fill a pretty large FVG ;
✅ Cleanly retest the previous high ;
✅ Perfectly touch the 50-day MA — which has historically sparked solid moves.
Sure, it was unpleasant. Sure, things didn’t go exactly as planned. 🤷♂️
But is this the end? Absolutely not. We haven’t even reached any of the typical panic points yet.
I think on the LTF we’ll dip once more to shake out early longers — then we’ll continue upward. 🐋
Yeah, that previous-week correction wasn’t fun, but honestly, it’s perfectly healthy price action.
Thanks to that sharp drop, #Bitcoin managed to:
✅ Fully close the CME gap ;
✅ Fill a pretty large FVG ;
✅ Cleanly retest the previous high ;
✅ Perfectly touch the 50-day MA — which has historically sparked solid moves.
Sure, it was unpleasant. Sure, things didn’t go exactly as planned. 🤷♂️
But is this the end? Absolutely not. We haven’t even reached any of the typical panic points yet.
I think on the LTF we’ll dip once more to shake out early longers — then we’ll continue upward. 🐋
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.