#BITCOIN : HUGE MOVES COMING 🕖
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- Bitcoin's price has been range-bound between $69,500 and $69,100 with low volume ($12.7 billion) compared to last week's $40 billion.
- The market is waiting for a breakout, and volatility is expected to increase soon.
🧵 Institutional Investment
- New capital is expected to flow into the market in the next 24 hours, but the destination is unclear.
- Institutional investors, funds, and market makers will play a significant role in shaping the market's direction.
🧵 Fundamentals
- Positive ETF inflows and expected bullish momentum from upcoming inflation rates and CPI data support a bullish outlook for Bitcoin and crypto.
🧵 Short-term Outlook
- The short-term outlook is neutral to bearish due to the lack of momentum and recovery after the recent dump.
- A breakout above $69,700 with volume is needed to confirm a bullish trend.
🧵 Key Takeaways
- Wait for confirmation of a breakout or recovery before making a trade.
- The most likely scenario is a bearish market if there is no recovery or momentum.
- The market as a whole looks weak, and it's best to assume a bearish bias until there is confirmation of a trend change.
