Mayooo

The US market is open!
Let’s see if $BTC can make a move toward the CME close.

$509,000,000 liquidated from the crypto market in the past 60 minutes.
Massive liquidations happened during this move down.
These kinds of flushes often occur near local bottoms.
$BTC could now be setting up for a move back toward the CME gap close around $79,100 after this heavy liquidation flush.

Nasdaq closed its first red weekly candle after 6 consecutive green weeks and a nearly 30% move higher.
That weekly close could mark a local top, at least in the short term.
Now the question is whether stocks consolidate at these levels or see a deeper pullback (which would be normal after such a strong rally).
If equities start cooling off, that could also put some short-term pressure on $BTC.

$BTC just took the liquidity below $78,820.
That’s a long setup, not a short setup.
Can shorts still work? Maybe.
But fading a liquidity sweep like this is low-IQ trading.

$BTC lost the $81,000 support again, but as long as we hold above $79,000, I remain bullish. The next pump is only a matter of time.
That said, Bitcoin must hold the $79,000 level to maintain bullish momentum.

US market opens in 35 minutes, and futures are heavily red.
Putting additional pressure on $BTC.

Sometimes, if you don’t see at what levels the opportunities are for $BTC or any other asset, just inverse the chart on TradingView and it will automatically look much clearer.
If you see this chart, where would you look for longs?
Exactly, most of the time you look for support levels or the start of the impulsive move up.
Right now at $81,000 there is no historical support, so I wouldn’t long here (on the inverse chart, that means shorts).
I would look for support (start of the impulsive move) at $84,000 and $89,000.
So that is exactly where I’m placing my TP’s, and also why you don’t short r

$BTC
A lot of traders become bearish at support and bullish at resistance.
Don’t make that mistake.
Learn to identify these zones and use them to your advantage.

It’s hard to stay bearish on $BTC while the Nasdaq and S&P 500 continue printing new all-time highs.
The divergence between these assets is simply too large to ignore.
It may take some time, but capital always flows to where the highest returns are.
For now, most investors remain focused on semiconductor stocks, but sooner or later they’ll realize Bitcoin offers the strongest ROI potential in the market.
Position yourself early before the parabolic phase begins.

All the perma bears are celebrating again because $BTC dropped below $80,000.
So far though, this still looks like a healthy retest.
I wouldn’t be surprised if Bitcoin already put in the local bottom.

$BTC retested $79,000 and is currently bouncing back, trying to break above $80,000 again.
I’m still in my long from $77,100 and still expect us to reach $84,000–$85,000.
I highly doubt the top is in.