I associate the rapid recovery of the crypto market with winning back the losses caused by the collapse of FTX. The market was very oversold for a long time and it was a matter of time to win back these losses. 1/4 btc crypto
At the moment, the bulls have gone quite a long way and have clearly stumbled upon the 21300 resistance line. At this point, it makes sense to take a break and maybe even go down back to the 20000 level to overload and liquidate the accumulated longs with high leverage. 2/4
There is a chance to go even higher to the level of 22800, and then to 25000, but this is only in the case of a tailwind in fundamental terms, at the moment, the weakening of the dollar is a positive factor for the crypto market, 3/4
if the trend continues in the European session and then in the American session, then there is a possibility of breakdown of the level 21300, but if the dollar will show some gains, then this will cause a correction in the crypto market. 4/4
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this twitter thread.