BTChill

We’re below 9 and 21d MAs on most timeframes, the only one not looking terrible is the weekly. We failed to hold 60k, there are no supports until like 52k, with more prominent ones being 48k and 42k. However, If you didn’t sell at 67k, I don’t see a point in selling now. We’re -22% from ATH (57600/73777 - 1), that’s quite a correction as it is. Also, I just can't be bearish when Tesla is printing +17% in a day.

I don’t mind buying now, but it would be wiser to wait till we reclaim 61k+, or drop to or lower than 52k. 52k is another -10%, 48k is -17%, 42k is -27% . So, from the current levels, we’re worried that BTC could drop another 10-17-27%, but should the numbers go up, it’s a +28% until reach the ATH. The risk-reward is not too bad as it is. And it will be amazing at 52k.

I kind of see a reverse head and shoulders forming. For that we’ll have to touch 50s, then bounce in Q3, nearing ATH in Q4. It is expected that the US will stimulate markets near the November elections. This could help with inflow of money into BTC ETFs and risk assets in general. We'll see.