#Bitcoin 1D Update!
After fully achieving our targets of 72-52k and 70-48k, it appears that the stabilization and slowdown phase post-48K has been completed.
While #BTC looks positive above 58k, the chart suggests a potential bull trap, with a dip below the blue area indicating a swift new downturn. I'd consider the yearly opening liquidity and demand zones below as key action points for spot and futures positions.
Overall, the crypto market trend remains bearish. Altcoins seem to have completed their correction, likely facing a further 50% drop. Consider entries above 62,500$ or at the noted demand zones. If holding products at a loss, consider stops below 58-59K closes.
Remember to consider the looming US recession and other macroeconomic factors. Downturns hit where least expectedâit's wise to plan ahead. From 16K to 73K, why is it impossible to test the 38-40K range? Institutional costs, miner expensesâthese are baseless notions. I hope this analysis serves as a solid roadmap for your success. Good luck #BTC
