Bitcoin's 2023 uptrend fair value price is $25k. A +6% move may happen tomorrow or this weekend. Bitcoin's gold correlation is presently at all-time highs. Gold sold off today, so I expect it should pump tomorrow.
At the time of writing, Bitcoin's price is near its 0.618 retracement on the hourly chart. Some altcoins have dipped heavily, while others have barely dipped (this is bullish).
Despite the FOMC pump yesterday, shorts are still overcrowded. Today was not organic selling, it was a long squeeze. $62 million longs were liquidated today. Hopefully tomorrow we see a giga-pump with $200 M shorts liquidated. Fingers crossed. The conditions look good, bullish.
At the time of writing, Bitcoin's price is near its 0.618 retracement on the hourly chart. Some altcoins have dipped heavily, while others have barely dipped (this is bullish).
Despite the FOMC pump yesterday, shorts are still overcrowded. Today was not organic selling, it was a long squeeze. $62 million longs were liquidated today. Hopefully tomorrow we see a giga-pump with $200 M shorts liquidated. Fingers crossed. The conditions look good, bullish.
