BTC Facing Possible Redistribution to 23-20K Area
BTC/USD COINBASE:BTCUSD
I’m overall neutral but with slight bearish bias due to BTC’s overwhelming unpredictability. It is possible the last rally was a UTAD (bull trap) and we will be seeing the air let out as we fall through last points of supply (lpsy) and down into the 21K vicinity. Especially considering this is the weekend, which traditionally, in crypto trading, is bloody and bearish in sentiment (i.e. bloody Sunday). We cannot ignore the volume either, which has shown a clear predominance of supply at key Fibonacci junctures with an unwillingness to rally above the 1.0% area to close out the macro liquidity gap above the PS at 30 grand.
