$btc🪙Local thoughts on BTC, we have a lot more work to do!

📈The weekly candle has closed, signifying the need to discuss the local prospects of Bitcoin and update the forecast. First off, let's designate the zones for potential long and short positions. The most critical zone for the bulls right now is at $34,900. At this moment, Bitcoin is testing the squeeze under this level, and if the price can't establish itself above this zone, we're likely heading for a correction. For shorters, if you're betting against Bitcoin, the first potential correction zone is at $33,400. If that's breached, the path could extend down to $30,500.

📈Now, the most crucial aspect: the market sentiment and manipulators' logic. Even from our recent poll, it appears that most traders haven't entered the market yet, possibly waiting for the perfect entry point, which the market manipulators aim for. It's essential to understand that there's no perfect entry point in the crypto market; there's technical analysis and a well-defined plan. It's not impossible that they'll soon incite FOMO and prompt those who are still contemplating to enter the market.

📈As for me, I'm certainly not looking to long Bitcoin, particularly with such dominance in the market. However, the majority of altcoins still haven't surged into long positions. The action plan is to wait until our open trades move from a standstill because the market has paused, and afterward, make a decision. Perhaps by day's end, I might enter another short position. I'll keep you updated!