Aftermath of the Powerful BTC Move from 53k to 42k
BTC's move is powerful with a lot of volume. Though we got a decent reaction this is not bullish in my eyes. We've swept all the lows highlighted in green. Moving like a boss GP to GP. Looking for a move to the confluence of resistance at 49k. After that we can evaluate how the strength in the market is, if monthly open can then hold it would be bullish potentially to consolidate higher, in terms of healthy structure to me it makes sense for us to get another leg down and test the AVWAP band from the lower consolidation. Ideally price should hold 44k if we are to get a test for that in the near term though i think 46k should hold.(edited)
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