💎BTC/USD🌴FREE UPDATE🌴
- Yello Ladies and Gentlemen🚬😎💰
💎The last FREE update was at $56k (on February 21), and we anticipated more downside from there in the short-term.
💎Since then, BTC dropped to our previously marked strong support zone ($44-45k), from where we are seeing a nice bounce today. As you can see on the chart below, we closed the daily candle exactly above our 0.786 fibs. We also told you not to forget the macro picture. And that's still valid. We are in a massive bull market, and 10-40% of corrections are healthy along the way. Market makers need to liquidate the crypto noobs from time to time to get the fear back in the market and attract new investors...
💎The last thing you want to do in a bull market is panic selling the bottoms and fomo buying the tops. Be careful about that. We can expect BTC to still trade within the consolidation zone over the next few days.
💎This will be the time again when most people will get rekt by guessing the next breakout. most people are simply impatient to wait for a breakout and then trade the retest, which is a much safer approach…
💎Now that we've put in a decent local low and, more importantly, took many long stops, we are more neutral biased for the next direction—all eyes on the 50-51k. A decisive breakout here would ignite a very hated and powerful rally again towards our resistance at $59,999, with the likelihood of even making new highs.
💎If we don't break higher now, we will continue ranging in the 44K-51K zone as MANY people capitulated on their longs/spot holdings during the relentless selling this weekend. On the other possible outcome, more dropdown will be dangerous for a possible avalanche to come. The first liquidity pool for longs is at $44k, and the significant demand level is $39k. Both can get touched, and it would still be just a healthy correction.
💎Also its worth mentioning that Bitcoin has fallen during March in six out of the past seven years. This includes the 25% decline last year and a 35% decline in 2018. So this month is easily the worst month on the calendar for BTC. We have not seen any whale activity to support the latest rise, which is even more reason to believe it may be temporary.
💎Putting it all together, $51,000 is the first significant recovery target this week—the first spot to look for a potential fade back to $44k. Reclaim above 51k, and we can go towards $59,999, a breakout below $44k, and the next zone of interest is at $39k—ranging vibes over the next few days between $44-51k.
💎Meanwhile, the ParadiseTeam would expect alts to be less reactive to BTC movement from now on. The correlation DEX / mid / low-cap alts vs majors has been super high the past two weeks, but a strong crypto bull market typically characterizes in relentless altcoin rallies despite BTC fluctuations. So far, we've seen a small glimpse of this at the start of February but not really for a sustained period of time. We can see this happening soon-ish, maybe even with ETH and DeFi decoupling like they did a few months back. So from a risk perspective, we are more inclined towards exposure in DeFi, ETH, DEX and strong alts, which we have been very active in
- Yello Ladies and Gentlemen🚬😎💰
💎The last FREE update was at $56k (on February 21), and we anticipated more downside from there in the short-term.
💎Since then, BTC dropped to our previously marked strong support zone ($44-45k), from where we are seeing a nice bounce today. As you can see on the chart below, we closed the daily candle exactly above our 0.786 fibs. We also told you not to forget the macro picture. And that's still valid. We are in a massive bull market, and 10-40% of corrections are healthy along the way. Market makers need to liquidate the crypto noobs from time to time to get the fear back in the market and attract new investors...
💎The last thing you want to do in a bull market is panic selling the bottoms and fomo buying the tops. Be careful about that. We can expect BTC to still trade within the consolidation zone over the next few days.
💎This will be the time again when most people will get rekt by guessing the next breakout. most people are simply impatient to wait for a breakout and then trade the retest, which is a much safer approach…
💎Now that we've put in a decent local low and, more importantly, took many long stops, we are more neutral biased for the next direction—all eyes on the 50-51k. A decisive breakout here would ignite a very hated and powerful rally again towards our resistance at $59,999, with the likelihood of even making new highs.
💎If we don't break higher now, we will continue ranging in the 44K-51K zone as MANY people capitulated on their longs/spot holdings during the relentless selling this weekend. On the other possible outcome, more dropdown will be dangerous for a possible avalanche to come. The first liquidity pool for longs is at $44k, and the significant demand level is $39k. Both can get touched, and it would still be just a healthy correction.
💎Also its worth mentioning that Bitcoin has fallen during March in six out of the past seven years. This includes the 25% decline last year and a 35% decline in 2018. So this month is easily the worst month on the calendar for BTC. We have not seen any whale activity to support the latest rise, which is even more reason to believe it may be temporary.
💎Putting it all together, $51,000 is the first significant recovery target this week—the first spot to look for a potential fade back to $44k. Reclaim above 51k, and we can go towards $59,999, a breakout below $44k, and the next zone of interest is at $39k—ranging vibes over the next few days between $44-51k.
💎Meanwhile, the ParadiseTeam would expect alts to be less reactive to BTC movement from now on. The correlation DEX / mid / low-cap alts vs majors has been super high the past two weeks, but a strong crypto bull market typically characterizes in relentless altcoin rallies despite BTC fluctuations. So far, we've seen a small glimpse of this at the start of February but not really for a sustained period of time. We can see this happening soon-ish, maybe even with ETH and DeFi decoupling like they did a few months back. So from a risk perspective, we are more inclined towards exposure in DeFi, ETH, DEX and strong alts, which we have been very active in
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Follow a team of traders with 10+ years of experience?
Join FREE👉 t.me/+QwK2mkoTGBU0Nzc0
🎖️Or Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals 👉 shorturl.at/ikpAV