I think $BTC has a couple weeks of relief rally ahead and there are three main reasons I’m watching right now 👇

First, momentum has flipped positive. The 90 day market vs realized price oscillator just turned green and historically when that flips we tend to see short term relief rallies begin.
Second, positioning was extremely bearish over the last month with heavy ETF outflows and sentiment completely washed out across the timeline. (That usually creates the perfect environment for a squeeze higher once sellers are exhausted.)
Third, we’re seeing an interesting macro shift with the recent Iran war headlines. $GOLD has actually been dropping while Bitcoin surged today, which suggests capital may be rotating back towards risk-on.
Because of this I’m targeting a move into the $80K/$85K region over the coming weeks (Closing the CME gap), but I still believe this is a relief rally within a larger correction and I’m personally expecting a major leg down afterwards toward the mid $50K to $60K range before the real cycle continuation begins.