$BTC Bitcoin thoughts on the next move

25 sty 2022

If we manage to hold this zone, its likely we will retest 40500. A failure there the first time could be strategic, giving us a chance to confirm the low, or reject it. Hard to be confident in anything with the Fed doing their dance tommorow. Historically we usually give that 29-30900 zone a test, perhaps we were not able to reach it but i think a rejection at the .236, or a bad fed announcement, will likely send us there. I lean toward the upside for now because of all the short liquidation zones above us, but i think if we got a rejection at some point, itll persuade shorts to recommit and those who got liquidated today could revenge trade the move while scaring the bulls who piled onto the move late today. Win/Win for the market maker, and quite possibly for Bitcoin as well. If the market maker can pull that off, itll be twice as much pressure to the upside if we test the highs of this zone again afterwards. Above 40500, its 52600. Below 33700, its 30k