mechelle (mechelle2)

$BTC has some decent liquidity clusters on both sides. A lot of degens are going 50x or 100x long/short, and they'll be taken out. I think a revisit of $65,000 and a pump to $68,000 will both happen soon.

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The Crypto Fear & Greed Index hit the lowest point since the Luna collapse in 2022. Of course this is not an actionable metric as explained before. Just very interesting to see that most indicators & metrics point towards some mega crisis or collapse within the crypto ecosystem in terms of price action, weakness and sentiment the past few weeks. Even though we didn't have that, 10/10 crash aside. But that was 4 months ago by now.

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$BTC Pretty weak showing overall after the initial bounce. Bulls failed to push higher past that $72K+ mark and instead saw price break down again. Unless ~$68k is retaken, the fib retracement levels are the ones to watch in the short term.

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The current supply in profit/loss is also signalling that we're at the end of the bear market. Why? Because current valuations of $BTC have hit the same levels as during Q4 2022 and Q4 2018. I don't think we'll see much more downside from here. It's very likely that we'll consolidate for a little while, but find a floor on higher levels. Smart people are buying into the markets right now. Dumb people walk away. If you look at the profit/loss for the supply, this is where you'd want to be accumulating your positions.

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