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Bitcoin Analysis 📉
$BTC is currently trading around 65k. We entered our short from 97k, and as discussed earlier, 72k was the major target. Congratulations, BTC is now trading below 72k.
As planned, I closed 50% of my short position at 72k and opened a small long position. That long is currently in a loss, so I have DCA’d, bringing my average long entry to around 67k.
I strongly believed that 72k would act as a bounce level, which is why I took partial profits on the short at that level. There are still 2 days and 22 hours left for the weekly candle to close. If BTC closes the weekly candle below 72k, we will officially enter an accumulation zone between 54k and 72k, where price could range for weeks or even months.
$BTC
#BuyTheDipOrWaitNow? #CryptoMarketPullback #BitcoinDropsBelow$65K #WhyAreGoldStocksandBTCFallingTogether? #CryptoMarketStructureUpdate