Good day, reader! Let's take a look at the chart, what has changed since our last review:
So on February 25, 2024, the price broke the range and on February 28, 2024, confirmed the downward movement🫣
Right now, the situation is similar to May-June 2021, a cycle before the next wave of growth in BTC📈
What to expect locally from the daily? Three options:
1- We'll trade in the range and then go higher (which is currently unlikely)
2- We'll reach the POI zone and from there, there will be a reaction
3- We'll move lower in the range of $64,000 - $58,000 and from there, we'll go update the ATH (which is quite possible)
Overall, if we compare it to 2021, the picture is not rosy yet; if we do update the ATH, it will be around autumn🧐
Locally, I marked the zones of interest above and below on the chart👆
On CME, there's only a gap at $47,000 - $48,000, nothing else has been covered🦈
If we're looking for something locally, we can consider a long from $78,000 or a short from $93,000. But keep an eye on things locally.
If we approach the upper boundary ($93,000), either there will be a deviation and a continuation of the downward movement, or a breakout and we go higher.
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If we compare it to 2021, the correction is still not over...📉👀
From the liquidations, if we look globally - a large cluster around $95,000🔼
As for funding, the situation is currently neutral➡️
