BTC 21-24k area gets frontrun (idea) BTC possible 29-32k
In a previous post I was going through a thesis/idea about how BTC looks like there's a large confluence of moving averages between the 21-24k area, in this idea I take a look at the idea (simply that an idea, not my main thesis) on what happens if that area has been frontrun.
Tether is buying roughly $1,000,000 worth of BTC a day based on their transparency from twitter this morning.
There are certain narratives that could work for BTC at the moment because in my opinion there is always narratives available but narratives will always follow price.
With today's daily close (05/17/2023) looking at a potential higher low forming on a daily timeframe for BTC and i would explore the idea that BTC possibly climbs back up to 30-32k range and then re-assess from there.
Tether is buying roughly $1,000,000 worth of BTC a day based on their transparency from twitter this morning.
There are certain narratives that could work for BTC at the moment because in my opinion there is always narratives available but narratives will always follow price.
With today's daily close (05/17/2023) looking at a potential higher low forming on a daily timeframe for BTC and i would explore the idea that BTC possibly climbs back up to 30-32k range and then re-assess from there.