We are moving within the corridor and waiting :)

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Currently, we see consolidation in a triangle. The movement from below is limited by strong support in the 58-60k zone.

There was an expected spike above 60k to shake out liquidity from inexperienced long traders who overleveraged.

I don't see strength in buying yet.
There is a partial outflow of liquidity from Bitcoin.


The chart shows both small participants (orange line) and millionaires (blue line) reducing their positions.

Meanwhile, the altcoin market cap index is quite lively bouncing back and clearly has found a local bottom.


Most likely, in the coming weeks, we will see a significant redistribution of liquidity from Bitcoin to various altcoins. This is a usual scenario during Bitcoin's consolidation, which I expect at the current market phase.



I see no reason for dropping below the marked corridor. The seller is also exhausted. Bitcoin is oversold.