Post #1196471: #Bitcoin lost support due to the fact that it has…
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#Bitcoin lost support due to the fact that it has been tested a lot and now we're into next region of support at $21,500 and that's fine. People expect #Bitcoin to drop to $10K automatically and that's what we need + the massive FUD regarding the SESEC.

#Bitcoin lost support due to the fact that it has been tested a lot and now we're into next region of support at $21,500 and that's fine. People expect #Bitcoin to drop to $10K automatically and that's what we need + the massive FUD regarding the SESEC.

Feb 9, 2023 02:41 PM |
cryptomichnl
CryptoMichNL @cryptomichnl
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#Bitcoin is looking at a case where we're continuing higher. As long as we stay above $28,600/$27,800, markets aren't going to retrace heavily. Lower timeframes; perhaps $29,300 could be a great entry. Continuation targets; $32,400-33,000. Roughly speaking my thesis for #Bitcoin. Still a vacuum in which we continue the upwards rally through Q2 as Powell comes to an end with the hikes. Comparable to Q2 2019, which also rallied significantly. Correction to $25K in second half, as re #Bitcoin to $28.5-29K seems likely this weekend. The question is, what will the reaction be from there. Probably some scalp short regions. HTF buy the dip entry around $25K as a potential range to establish. That’s what we like to see. #Bitcoin accepted in Jeffrey’s Bay in South Africa. Matter of time until it will be everywhere. Didn't trade over the weekend, but we can see continuation plays on #Bitcoin here. 'QE' and 'Bailout' for the banks, which means temporary relief + potential good CPI and no more rate hikes (or 25bps) is fuel. Break above $21.3K is vital. Looking f Patiently waiting for the US markets to open later today. At this point, markets have been seeing a significant push upwards, straight into resistance around $22.6K. Focused on $21.3K for #Bitcoin, perhaps $21.6K if we want to have some aggro longs

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