
Doc's Daily Commentary and Watchlist

Mind Of Mav
Next Level of BTC Support is $38K
The recent downtrend initiated by the release of the Bitcoin ETFs as well as the Grayscale asset liquidation has caused Bitcoin to drop almost 22% over the last few days. Volatility is the price of admission to this asset class.

Based on volume profile analysis and confluence, the next logical level of support is at the $37k – $38K price level. From there watch for a reaction higher that leads to a lower high in price, and either a double bottom, or a continuation of the downtrend. Remember that the real money will come in from the larger asset markets when there’s blood in the streets, and I believe that we’ll need lower prices before those lizards join the party.

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