Based on the November fractal that is playing out pretty accurately, we could expect BTC to move lower. On a technical level, this idea would be supported by a possible bounce from the weekly MA50 and MA100 at 25k which would act as strong resistance.
Do I expect a similar FTX meltdown? Not really. But with more SEC regulation, BUSD FUD, potential FTX revelations, and ETHs Shanghai update coming up in the next weeks, there is plenty of room for BTC to get nuked.
Price targets for this idea are
- TP1: 15k 🥵
- TP2: 14k 😱
- TP3: 12,5k 💩
- TP4: 11,5k ☠️
Do I expect a similar FTX meltdown? Not really. But with more SEC regulation, BUSD FUD, potential FTX revelations, and ETHs Shanghai update coming up in the next weeks, there is plenty of room for BTC to get nuked.
Price targets for this idea are
- TP1: 15k 🥵
- TP2: 14k 😱
- TP3: 12,5k 💩
- TP4: 11,5k ☠️
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