Hi All,
#BTC #Bitcoin

Those who watched my live stream on Tradingview, last one will know I”m looking for further downs. However as this is a historical area of demand, 28k to 30k, I am expecting resistance to the downside at best with a modest bounce.
If the Nasdaq or SP500 do some upward moves, naturally BTC will as well but I find it more unlikely.
Hence the best we might get is the 21 monthly EMAMA level which equates to the bottom of that previous grey area. We might be able to get the macro resistance trend line but I doubt it.
The 0.5 fib level or the 0.618 is my thoughts for now before it makes its way to 25k first and then 23k before we get a big reversal.
This also fits into a descending wedge but I think once the rejection happens and it drops below this current level, it will capitulate and that would be our signal to enter.
Watch my video stream for futher details.

All the best,

S.SAri

note the longs are over extended which gives good reason for the whales to squeeze them out… the shorts are also on the increase.
Question is which one do they target first.

Video stream
https://www.tradingview.com/streams/EwG2xfNivi/