The Maximum Pain is Over‼️
– Yello, ladies and gentlemen🚬😎!
💎The Pain is over. Market macro bottomed. Today’s reversal candle should confirm it, it needs to close above $29500, and so far, it looks like we will make it!
FROM A SHORT-TERM PERSPECTIVE
💎We are seeing a good recovery supported by whales. A healthy rebound came, and with ParadiseFamilyVIPs, we have made a great profit from it by buying SOL at the bottom👉https://t.me/MyBinanceResults/6346.
💎28.5k-29k was reclaimed fast. Majors like BNB performed well during that, which is a good sign.
💎However, BTC on a lower time frame looks overbought right now (that is why we took a full profit on our SOL position few hours ago). Multiple confluences point to this:
1. $30500 is the H4 supply
2. 100 EMA/H1 rejection
3. Bearish Divergence
4. 21 EMA/H4 breakout is not really playing out.
💎While we would like the LTF uptrend to continue, a retrace to ~$29k is very much possible.
💎Breakout from here and 31.5k should be very difficult to break, so the retrace is actually needed to grab more liquidity before going higher.
💎If the bearish LTF outlook plays out, we do not want 29k to be lost at any cost.
FROM A LONG-TERM PERSPECTIVE
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