$BTC Thoughts🚀💯


I'm seeing bigger influencers posting a move to $70k. They don't really share their reasoning, so can't be sure, but I'm losing confidence in this move to the upside primarily because on a macro scale this is a downtrend.


Again just to emphasize, I am definitely bullish, and can expect rate cuts which will not immediately show but will def aid in money coming in 2-4 months. At this very moment though, I have low confidence in this structure and it looks like it wants to pick up liquidity. As long as it's forming HHs and HLs we are still technically good to see more movement first upside.


However be warned liquidity to the downside is slowly turning yellow, meaning a lot of liquidity is collecting. However we still could see the move up before dumping.


Funding rates are still negative.


This is so dang choppy atm. Probably will stay away today from trading. Will keep updating

#Bitcoin

August 23, 2024 at 3:14 AM
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