🚨🚨🚨 I Don't Think Bitcoin💰 Will Go Back Below $55K-$50K: Mike Novogratz

Mike Novogratz believes a major #Bitcoin correction should be expected but it will not take BTC far down.

@News_Crypto | link

🥇 Bitcoin has printed a bearish pattern a rising wedge on the 4-hour chart.

If it plays out then price could drop to between $69,000 and $66,000.

Main target 200 EMA on 4hr Chart.

💰 Bitcoin has reached our target of $69k and $66k from $73k.

Now there will be a small bounce from $65k to $66k (100EMA) before it drops to the 200 EMA on the 4-hour chart, which is at $60k.

💰 If ETF holders begin selling their ETFs, it could create significant selling pressure on #Bitcoin.

It's important to observe how they respond to this correction, whether by selling or by purchasing more.

💰 Bitcoin's next possible move: tapping into liquidity between $69.5k and $70k before a drop.

Holding short from $72.8k

💰 Bitcoin still can hit this liquidity pool before the drop 📉

We are already holding a short position from $72.8k.

If Bitcoin reaches $69.5k- $70k level, we will short again.

💰 Our short position from $72.8k reached our 200 EMA target. Bitcoin dropped by $12k from its high.

- The failure to close the weekly candle above the previous ATH.
- A Rising wedge, Bearish Pattern.
- And Slowdown in ETF inflows caused this market dump 📉

It looks like we are heading to a high liquidation zone between $50k and $48k.

There will be a 3-5% price bounce along the way from the support zones.

💰 Despite FUD surrounding #Ethereum, it's holding strongly.

There is a high possibility of reaching $3,500 and $3,600.