Here's how the markets look to me.
$58.9k STH support, if this breaks we move to a bear market.
CVD selloff has peaked, so a phase of "up" next. CVD measures market orders (impatient buy/sells).
Longer term: still weeks away from a proper bullish environment.

Structurally nothing has changed from my read of the data last month.
Mar: "sideways" ✅
Apr: "choppy in both directions"
Then we have the halvening next week which is another catalyst for volatility.
x.com/woonomic/status/17707686...
Zooming out, we have the potential for 2 levels up on this macro indicator.
I did buy this support retest yesterday, sticking to the plan. Let's see if that was a good idea. Present bearish sentiment is a good bullish sign.
x.com/woonomic/status/17758598...

We flushed out long leverage down to $60k.
To liquidate lower, price would have broken the formidable $59k STH support, and a strong sign of a bear market.
More likely short liquidations to 71-75k is next.
Short term price is a walk of liquidations. x.com/woonomic/status/17340727...

Looking at views of demand and supply, this chart being only one of them, it's just a matter of time before the accumulation happening throughout this consolidation squeezes us past ATH. Patience is key, don't be degen.

Remember: the longer BTC consolidates around ATH, the more coins that changes hands between investors cementing its price discovery.
This creates formidable long term support once we break it.
#Bitcoin as a trillion dollar asset class here to stay.
This is a good thing.

Sector:
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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