And as we speak market has broken down to the levels mentioned taking entire market down with it along with alts
#altcoins #BTC🔥🔥🔥🔥🔥 #CryptoWatchMay2024 #bitcoinhalving #Memecoins $BTC $ETH $SOL
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BTC and Altcoins rudderless market conditions!!
BTC is testing its support at 62,000 multiple times on 4H. Either it is going to catapult to 63,500 to take out lat shorts as it has already taken a lot of late longs out. But if this doesn’t break this level it should straight go and test 63,500 in case of break down fall down level is 61,500/-
By looking at the liquidity data 12 hours, 24 hours, 3 days and 1 month. Seems like it will be a quick drop to fill the gap at unfilled wick at 56,500/- and then a range bound condition for few weeks before taking any proper direction.. Money is flowing out of BTC substantially as we speak, reflecting general sentiments of investors and expected direction. Also liquidation data reveals a quick upward move to take out the late shorts !! Moreover coming week with important economic data will make market severely vulnerable and volatile, leverage on any side should be avoided.
Looking at the liquidity data levels mentioned by ICT / Influencers 52-50 seems unlikely atleast for a month.. range bound with BTC dominance not going above 55-56, alts should perform well (obviously not alts)… best strategy for this market time is to buy on weakness and sell on strength.. or even wait and watch if novice trader. $ETH $BTC $BNB #altcoins #CryptoWatchMay2024 #BTC #Megadrop #CryptocurrencyAlert
BTC is testing its support at 62,000 multiple times on 4H. Either it is going to catapult to 63,500 to take out lat shorts as it has already taken a lot of late longs out. But if this doesn’t break this level it should straight go and test 63,500 in case of break down fall down level is 61,500/-
By looking at the liquidity data 12 hours, 24 hours, 3 days and 1 month. Seems like it will be a quick drop to fill the gap at unfilled wick at 56,500/- and then a range bound condition for few weeks before taking any proper direction.. Money is flowing out of BTC substantially as we speak, reflecting general sentiments of investors and expected direction. Also liquidation data reveals a quick upward move to take out the late shorts !! Moreover coming week with important economic data will make market severely vulnerable and volatile, leverage on any side should be avoided.
Looking at the liquidity data levels mentioned by ICT / Influencers 52-50 seems unlikely atleast for a month.. range bound with BTC dominance not going above 55-56, alts should perform well (obviously not alts)… best strategy for this market time is to buy on weakness and sell on strength.. or even wait and watch if novice trader. $ETH $BTC $BNB #altcoins #CryptoWatchMay2024 #BTC #Megadrop #CryptocurrencyAlert
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