$BTC QUICK Market update
๐I went long on $BTC , with equal amount of short to hedge yesterday. The long was opening from 65.7k, all the way down. Short opened near 65k. So I am at a minor loss.
๐I believe Bitcoin survived the short squeeze (Survive?) and it's still dumping. I predicted a 62k dump since 70k, have been constantly shorting the market but I thought there could be a short squeeze near 65k.
๐Which somewhat did happen near 64k, when market pumped to 66000 in a few hours. However, despite all the short liquidity, longs were also adding up on their gambles and the sell pressure was too high. Especially from ETF outflows. And global economy is not getting any better.
So what now? I think BTC should go to 62k and maybe below. From then, if inflation slows down and market does enough adjustments, we could see a rebound starting from 61k.
However this does not apply to altcoins. I have always been negative on shitcoins and they have 0 value. Do not expect a miracle.
