in my last few posts, i talked about the possibility of seeing 23~24k before seeing a big pivot downwards. here's how i think we can potentially get there.
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as of this moment, shorts are out-weighing the longs. 1h hidden bullish divergence is present 1\3h stochastics have entered into oversold.
btc has come down in what looks to be 3 waves:
demand wicks are present, and there is an 11k long block acting as support.
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cpi data in 3 days is a total wild card. if that data beats expectations, we will see a significant short squeeze in the days ahead. the full moon will too support a significant rally - potentially higher than my current expectations.
if that data fails to beat expectations, then i don't think we will see the local highs taken out, and btc along with the rest of the market will move straight down to the targets i have been discussing recently.
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ps. i am still looking for lower prices after this push up 👇
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