BTC Macro Outlook, Why all the Worry?

When you zoom out BTC looks fantastic, sitting in a range at all time high, but the sentiment is extremely negative, a winning combination for continued upside!

Wave (1) of V into all high appears complete at the R1 pivot. Wave 2 has a downside target of the next High Volume Node at $107k the previous all time high range.

A deeper pullback to the weekly pivot would not be surprising and hit investors hard into capitulation, reminiscent of 2017. Price would meet with the rising weekly 200EMA around $80k. This move could present an excellent buy opportunity and would still have the same terminal targets in the long run!

For now the trend is up with price so far doing a x8 from bottom. TradFi dream of returns like this.

Weekly bearish divergences are dropping away as RSI is back at the EQ.

Safe trading