$BTC

We are now approaching the first retest of the 50-week moving average since reclaiming it back in September.
This is my line in the sand.
As long as we continue to hold above this level, I view bearish headlines and short-term volatility as noise, with any dips presenting potential buying opportunities. However, a loss of this level would be a significant shift in my outlook. That is when I would begin considering de-risking some of my spot positions and looking for potential swing-short opportunities.
Everything we are currently seeing in terms of price action was both expected and anticipated. We saw almost identical behaviour during the previous cycle following the reclaim of the 50W MA, something I have highlighted on numerous occasions.
Ultimately, I won’t be shifting my bias back to bearish unless we lose the 50-week moving average and establish weekly acceptance below it.
Until then, my broader outlook remains bullish.