This is just my opinion but BTC has bounced from a very critical diagonal line that goes back to the previous ATH in April 2021. This line is being respected atm and may take another swing low before we come back through to the upside.
It's pretty clear that the bears this time around are a lot weaker than they were in the May - July consolidation but of course that can always change with new catalysts such as SEC regulatory announcements or anything new from J Powell. I do have a feeling that there will at least be one more dip down before we move higher... it's just my opinion though and you should DYOR.
But from a holistic stance, it would make sense that market makers will take BTC down one more time to $36k-$40k region to flush over-leveraged longs and to trap bears into believing that H&S is playing out since the big money institutions need liquidity to buy. In order to get the liquidity they NEED many shorts in the market otherwise BTC would fly to unsustainable heights... again, just my view, may not turn out this way.
It's pretty clear that the bears this time around are a lot weaker than they were in the May - July consolidation but of course that can always change with new catalysts such as SEC regulatory announcements or anything new from J Powell. I do have a feeling that there will at least be one more dip down before we move higher... it's just my opinion though and you should DYOR.
But from a holistic stance, it would make sense that market makers will take BTC down one more time to $36k-$40k region to flush over-leveraged longs and to trap bears into believing that H&S is playing out since the big money institutions need liquidity to buy. In order to get the liquidity they NEED many shorts in the market otherwise BTC would fly to unsustainable heights... again, just my view, may not turn out this way.