Your Sunny came to explain to you the reasons for the current fall and share his expectations on Bitcoinđ°
The goal of the big market playerđ was the well-known hunt for sell stops liquidity: in the sideways movement, where #BTC was since the beginning of May, the whales were actively increasing their positions. Yet, before the growth starts, this rocket needs to be 'refueled' - it's the reason why we see huge liquidations of retail trader's long positions who take $66,000 as a key support and buying out Bitcoin from their sells 'at a markdown'
Current situation may look unclear, but for me there is no doubt about it, Traders! Below we have a bullishđ orderblock of $61,000-$63,400, which when tested at the same time completely filled an Imbalace on the 1D TF.
A deeper dive into this zone is possible, but the key argument fort buys will be invalidation of the bearish bias: update of the last Swing High (currently $66.500). The main target remains unchanged - Raid of the April 8 high of $72,900.
However, much more interesting in view of the falling dominance #BTC.dđ now looks not the payoff of Bitcoin, but medium-term investments in Ethereumđč and related tokens. Each of the fresh altcoin has odds of 2-3x in the coming weekđ
Put đ if the current market environment has become clearer to you!
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