$BTC Overview
Though theres a recovery ,but the strength of recovery is slow and fragile . Lose nearly 1.5% from the recovery (top) .Compared to our expectations,
it has given a clumpsy move since last 24 hours with a lots of fake breakouts.
Seeing the current situation ,it has both positive and negative sentiment . Let's discuss :-
👉Positive Sentiments :-
🔸 It's clear now that no major sellers are active that's why the market is trying to recover
🔸The recent low 80 k may be a bottom now.
🔸 Retailers sentiments will be neutral towards the market.
🔸The market is oversold and lite.
👉Negative sentiments:-
🔸 There will be a sell on rise
🔸 Lack of buyers, especially institutions and HNI investors, that's the reason market got stuck in one area.
🔸 Vacation and events out there
🔸 The market is in such place that no FOMO investors and traders out there, everybody is in watch and see mode.
👉 Trading range $80k to $90k
👉Sentiment- negative
There will be a buy on dips and rise on sell. So suggest buy and sell on the major support and resistance only.Dont trade breakout without confirmation.
Key points to watch:-
🔸Fomc updates
🔸 ETFs inflow/outflow
🔸 Major development related to Crypto
🔸 Btc breakout above 90 k & below 80k.
👉My sentiment- Neutral and BTC may consolidate .