I’d remain very cautious trading $BTC and $ALTS at current levels.

Price action continues to look heavily supported, almost as if market makers are attempting to sustain price long enough to build upside liquidity only to eventually take that liquidity and rotate price lower.
Given the broader macro environment, midterms, and ongoing bear market conditions, I currently struggle to see a convincing scenario where price reclaims the 200 MA and sustains a meaningful move higher.
We’re now trading just above a critical support level while already sitting below the monthly open. Under normal market conditions, a larger downside move would appear necessary here. Instead, price continues to feel artificially supported while liquidity is built overhead.
We’ve already seen rejection and deviation above several major key levels, and price is now trading back below all of them which, in my view, weakens the bullish case significantly. #btc