Time to zoom out a little bit on bitcoin:native
Panthi´s Level Watch (HTF) 🐈⬛
🐾 It´s getting increasingly more likely, that we have already formed a structurally meaningful top around $87k.
🐾 As a major milestone target, I am looking at the $75k-$70k area.
🐾 A corrective, choppy 3-wave move leaves the door open toward another rally into the $90k-$110k area.
🐾 On the contrary, an impulsive 5-wave move from the high favors a corrective bounce next. But for now, there is no evidence for it on the chart.
⚠️ A sweep of the recent highs into the $88-$93k area is still very much possible even if for now the trend is down.
ℹ️ Any strong bounce could make for a great short swing trade opportunity over the coming weeks, while long trades get increasingly more interesting around the B wave target area.
🔁 Let the market commit first.
Stay prepared, not biased! 🤝🐈⬛