🔥 Bitcoin Situation

Bitcoin $73,800. The density at $74,500 is being eaten away, becoming thinner and thinner, with concentration at $74,500 and not strong sell-offs, but from there a lot of shorting is happening, which indicates one thing – there may be a breakout and consolidation above $74,500, the 0.382 Fibonacci zone, the zones breaking the structure of the downtrend, as it was in 2022.

In all my recent videos, I said that if we consolidate above $74,500, bears could be in trouble, because there is simply no resistance up to $85,000.

From $80,000 to $84,500, there is a CME gap that we closed with a single candle back then, without retesting. So, a close above $74,500 equals $84,500.

After that, it’s dancing with tambourines, because a move higher would be a catastrophe for bears, as it would mean a change in the downtrend structure and the end of the bearish phase. And many are not in the market or are shorting.

I warned about this in many videos in a row. I explained why I bought altcoins at $70,000. I am prepared to accept the risk of a move down to $50,000 and wait it out; for me, this is less dangerous than being completely out of the market and buying at who knows what prices.