Fibonacci analysis shows a bleak image for BTCUSD as the extension in this cycle should have gone $100k+ or even $200k+ in order to establish a support level at $30k.
Also the price hovers below the 50WMA and if this month closes below $23k we will have the first bearish crossover between the 7WMA and 50WMA in the history of BTCUSD
We've had an incredible decade with insane liquidity and media exposure the last two years and still we couldn't push to 6 figures so I am not ultra bullish long term but I am personally watching the $14k and $10k levels where I will place some bids just below them and look for capitulation events or market pivot elements
Good luck to y'all!
Also the price hovers below the 50WMA and if this month closes below $23k we will have the first bearish crossover between the 7WMA and 50WMA in the history of BTCUSD
We've had an incredible decade with insane liquidity and media exposure the last two years and still we couldn't push to 6 figures so I am not ultra bullish long term but I am personally watching the $14k and $10k levels where I will place some bids just below them and look for capitulation events or market pivot elements
Good luck to y'all!