Today we have seen the major correction that I have talked about in my previous posts. $BTC dumped more than 12% reaching a low price of $65,000, liquidation price is insane as billions of dollars were lost in liquidation & as per the charts below we will assess the situation of why BTC had this major dump, correction or pull back that might happen and the opportunities that we have right now...

Let's Dive In

The Reason $BTC Dumped

1. Long Price Surge

As we saw in the previous 2 month BTC was ridiculously increasing as it passed it's all time high price and continued towards $73,000 range. This increase wouldn't continue as we know that any major increase must be followed by a correction.

2. BTC Spot ETF Volume

This week we saw a decrease in the net flow volume of the BTC Spot ETF reaching as low as $132 Million USD as we were seeing in previous weeks billions of net flows per day.

3. Historical BTC Halving Dump?

Historically we have seen the price of BTC suffers a major correction before the BTC Halving even which will be upon us next month.

What is BTC's Next Move

? Scenario 1

If BTC breaks above $71,000 and stays above, this will mark the return of the Bullish momentum and the expectations should be positive.

Scenario 2

(I think this is the closest scenario) If BTC hovers below previous All Time High $69,000 and gets rejected we could end up dumping back to the $65,000 range which was the support level created and even lower. Thus a bearish diversion will be official.

Opportunities

As we saw that most of the Altcoins dropped significantly, I was continuously telling you to keep cash on hand and buy the dip, hence now is your major opportunity to buy the dip as we won't see those prices happening any more.

Attention

Don't long Futures as if you are smart and you think that you have cought the bottom point, unless we get a confirmation we could be going lower so keep that in your mind

? Written By @CryptoVenom

熱點(diǎn)：BTC BE THE