I'm trying to find a reason for today's drop, at first I'm thinking a Long Squeeze given the selloff peaks in the south since its last days, but we have Binance which is attacked for the umpteenth time by the SEC .
Now that the cleaning is done in the south after a retest of the trend line of the downtrend channel which has a lot of chance of breaking from the top, except that we are not far from the 50% fibo around 24.5K in the middle of the dynamic key zone of support between 24K to 25K, to see the price action which is bearish for the moment via the large red engulfing candle of the previous ones.
S&P 500 and Gold remain bullish and DXY down, normally BTC should follow S&P 500 or GOLD but I think it will be soon!
https://twitter.com/binance/status/1665755879742767108
BTC in 1D: https://www.tradingview.com/x/hEGZcDrv/
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