BTC/USD - About to attempt a rally to $24k, can it make it? 🚀

The 3-day timeframe is pretty clear in my book. A textbook reversal candle = bullish hammer + capitulation wick and a second bullish candle after.

This means Bitcoin means serious business.

In the most pessimistic scenario, this should still give us a decent bounce and at least a test of the $24k resistance.

The selling and liquidations have taken place and are unlikely to revert soon. The $17k price should be our local bottom for a few weeks at least.

All those CeFI platforms promising unsustainable rewards which are about to get rekt or become insolvent may get some fresh air to breathe a bit before they are put on the spot again. Only further liquidations could make BTC print a lower low.

We could range here too, but sentiment in the market is improving with some altcoins going up by 40%. Hence, Bitcoin could also have a decent bounce.

All eyes are on the key resistance because that one will decide where we are headed next. A rejection there would be quite devastating for bulls.

Bias is bullish short term, but med/long term things are still bearish for now. HODL on some cash, you may need it later. Don't just FOMO, it may cost you.

Like and follow if you liked this idea!