BTCUSD

Hello everyone,

Attached you will find my view on the BTCUSD pair, with a 12-hour timeframe.

As you can see, the trend is bearish and increasingly resembles a distribution pattern.
We are nearing the end of a 6-month cycle, from the low recorded in November 2022.
And 300 days after the unfortunate event with the Terra Luna crash. There have been other events that have taken us below Bitcoin's old ATH for the first time in history. We won't mention them now. Our goal is to intuit the trend for the next period.

Measured from the November low, those who were inspired to buy at $15,800-$16,200 have a good profit of around 80%.
On a 3-day timeframe, it seems that we are facing a confluence of resistances, plus an important Fibonacci level (measured from the November 2021 ATH to the November 2022 low).

We also have an MA377 at this level + a number from the Fibonacci sequence: 28,657.
s3.tradingview.com/snapshots/w/Wv4S73cs.png (tradingview.com/x/Wv4S73cs/)

s3.tradingview.com/snapshots/5/5bISL6eG.png (tradingview.com/x/5bISL6eG/)

The Fear and Greed Index is at 62% and the sentiment is very bullish.
All these details do not lead to the scenario that in these days (2-4 days) we will have to deal with a correction. And we will collect liquidity from the $24,000-$26,000 area.

We appreciate your feedback.

註釋

almost there