#Bitcoin - What's Next?
🚩 TA/LCA/Psychological Breakdown: We have very important support zones nearby that can offer lucrative entry points for buyers. The first strong support is the EMA50, which is where I placed my long and spot orders in recent days. Something I shared with you and they are currently showing good profits. Below the EMA50, there is another significant support level, the declining support of the descending broadening wedge pattern, which is clearly visible on the charts. This is the weekly chart, so each candle represents one week. What I want yout to understand is that we will likely continue to move within this sideways range before finally breaking out. So patience is required.
The key question is: will we see another lower low, or will the breakout happen from here? Place your bets. But let me clarify something with an example to help you understand. This example is relevant when we believe that BTC is no more than 10% away from the bottom. When Bitcoin was at $16k in 2022, many people were waiting for it to drop to $10k, but that never happened. They missed the entire move and were left with nothing. The same thing is happening now, with figures like Arthur Hayes predicting BTC will soon drop below $50k. People are once again too greedy, waiting for a lower price but the market will punish them.
The takeaway here is that EMA50 is currently 2% below the market price. The second support level I mentioned is 10% below the current price. Can I handle a 10% price fluctuation? Yes. Will I adjust my risk management for leveraged trades to account for a 10% fluctuation? Yes. Keep in mind, this is a weekly chart, people expect things to happen quickly, but that's not how this works. I’m not here to farm engagement by feeding you lies. I’m sharing my genuine thoughts and analysis in this complex market. I’ve already placed my bets.
For now, Iam placing many long orders in the yellow marked zone. If market makers allow to visit that place to grab more liquidity and test the lower level of the descending broadening wedge I will be prepared.
Market for now is very healthy, the funding rate is in negative regions, means way more shorts than longs are open. I see many calling for 40k targets and the end of the bull market. People dont understand that BTC real parabolic move is on average 10-12 months after halving. The halving was in April, we are very good in time and reclaimed the old ATH. Now we moving sideways in the old ATH region. Only difference, back then the current region was filled with extreme greed, now the market is filled with extreme fear. Take your bets.
