💰 Bitcoin has been trading within a $2k range for the past 7 days.

Expecting a big move soon, If #Bitcoin closes a daily candle above the upper trendline, which is at $44k, it would be considered bullish.

Currently below that tendline it is bearish, targeting $40,000.

💰 Bitcoin has printed symmetrical triangle pattern on 4hr chart.

Short term it is bullish, On breakout expect $43.5k - $44.5k.

💰 Since 8 weeks The #Bitcoin has been trading choppy and sideways within a 6% range, including several false breakout signals.

A BIG movement is expected once Bitcoin breaks out of this range.

Also Be ready for another fakeout before actual move.

Currently holding a short position from $43k.

💰 #BTC and #ETH options with a notional value of more than $1 billion will expire and be delivered this Friday.

The maximum pain point price for BTC is $42,000; the maximum pain point price for ETH is $2,350.

💰 The $42,000 to $44,000 range is controlled by algorithms.

Algos are hunting stops as much as possible.

- Stops at $43.6k hunted by these alogs.
- More liquidations are at $42.5k.

💰 There is no good risk/reward for going long here.

Short from $43k closed near $44k.
We sold spot bags at $48k (FIB 61.8%).

To open a short position, Patiently waiting for #Bitcoin to hit the resistance area or to lose the 25-day EMA, which is acting as strong support.

💰 The time has come to see power of 61.8% FIB Resistance.

After hitting 61.8% FIB Level #BTC Dropped :

2016 -40%
2019 -70%
2024 Loading...

Bitcoin is currently forming a lower high similar to 2019 after reaching the 61.8% Fibonacci level.

Expect a big crash if fails to break and hold above $49k.

💰 $48,646 is FIB 61.8%

Rest things you know.

💰 Expect high volatility in #Bitcoin today because of the release of US🇺🇸 CPI data.

Bitcoin has just reached a significant trendline resistance.

💰 The data and Indicators suggests that the market is currently overbought.

Possibly correcting down to $49,000 and $44000.

💰 In 2024, Bitcoin broke the 61.8% level for the first time without any major corrections.

I last 2 cycles, the 61.8% level was breached around 6 months after halving and about 2 months after halving in 1st cycle.

However, this time in 2024, the market broke the 61.8% level two months prior to the halving.

This suggests a deviation from the typical four-year cycle, indicating that the current cycle might be shorter and more rapid.

💰 Bitcoin is facing resistance due to the yellow trendline, overbought signals, and a doji candle.

If Bitcoin breaks the blue trendline, a downward trend is expected to begin. 📉📉

🟠 CZ faces up to 10 years in prison, but as part of his guilty plea deal he will receive no more than 18 months

@News_Crypto | link