P_S_trade

Possible Bitcoin BTC price move for next 3 month

P_S_trade Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
There are two elements in the market: "retail money" and "big money".
The former buys longs based on rumors and news around ETFs.
The latter, based on the same news, receive increased trading volumes at the expense of retailers and dump their positions to them, rather unnoticed.

For ourselves, we assume that in the next 3 months, the price of BTC may move in a similar "white fractal" pattern:
  • - a sharp downward impulse and the overlap of the $34100-34400 GAP formed on CME BTC.
  • - further prolonged sluggish growth, ultimately without updating the highs - "dead cat bounce"
  • - January 2024 - the beginning of ETF decisions announcements - the beginning of a relatively deep correction in the crypto market.

What do you think about this scenario? Write in the comments
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