Bitcoin - Sell in May and go away

٢٥ فبراير ٢٠٢٣

BTCUSDT

This is pretty simple but logic movement. All market drive by algorithm and plan

Impulse from top 69 to 42 and next Fib Trend Extension

At 0.618 level we came almost to 25314
Locally we should came and find a rejection at covid dump up-trend line.
Its hard to say about timing but if we take a look on macro in a world most likely we can see this uptrend move till end of April and
"sell in may and go away" cliche. Recession have an always lag around 2-4 months. We probably already in recession, but affect we will see later. Also DXY this time will be around 108-110
After September/October macro situation will start stabilise and we will see test 20-19K again like strong support zone.
Than few month in flat around 19-24K range again so more and more people build consensus about 10-12K for SURE.
And start climbing up slowly but surely.
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✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.

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