🌐 As always, people like to find meaning in everything to make life seem simpler and more meaningful. So, once again, Trump has been blamed for the market crash.
Probably, if it weren't for geopolitics, Bitcoin would have grown indefinitely, and no one would have taken profits, but simply admired the numbers in their accounts 😁
But this is the real world, and BTC has long been asking for a correction along with the entire market, which I have been talking about for a long time in my ideas.
That is why this is not just a dip, but the likely beginning of a full-scale correction:
➡️ Last week's decline was expected because there is a GAP at $117,000 - $111,245 at these levels. Now that it is almost closed, a new GAP has formed during the decline at $118,403 - $115,245.
➡️ Volume - The volume of purchases at this price is simply negligible; no one wants to buy the dip even at $112,000. In addition, a divergence has been forming since last week in the volume of purchases, which has been declining for a long time.
➡️ Money Flow - very little liquidity entered on the rebound. This signals a lack of interest in buying the dip. The indicator is firmly in negative territory.
➡️ The price has also returned to the boundaries of the descending flag. Technically, this means a probable rebound to $118,000, the upper boundary of the flag, where the GAP is practically ending.
📌 Conclusion:
The main question now is: what next? Either we go higher and close the GAP from above, or we go down to retest the bottom from Sunday and close the GAP.
So far, everything points to the second scenario being more likely.
✍️ What do you think will happen next for BTC?
Probably, if it weren't for geopolitics, Bitcoin would have grown indefinitely, and no one would have taken profits, but simply admired the numbers in their accounts 😁
But this is the real world, and BTC has long been asking for a correction along with the entire market, which I have been talking about for a long time in my ideas.
That is why this is not just a dip, but the likely beginning of a full-scale correction:
➡️ Last week's decline was expected because there is a GAP at $117,000 - $111,245 at these levels. Now that it is almost closed, a new GAP has formed during the decline at $118,403 - $115,245.
➡️ Volume - The volume of purchases at this price is simply negligible; no one wants to buy the dip even at $112,000. In addition, a divergence has been forming since last week in the volume of purchases, which has been declining for a long time.
➡️ Money Flow - very little liquidity entered on the rebound. This signals a lack of interest in buying the dip. The indicator is firmly in negative territory.
➡️ The price has also returned to the boundaries of the descending flag. Technically, this means a probable rebound to $118,000, the upper boundary of the flag, where the GAP is practically ending.
📌 Conclusion:
The main question now is: what next? Either we go higher and close the GAP from above, or we go down to retest the bottom from Sunday and close the GAP.
So far, everything points to the second scenario being more likely.
✍️ What do you think will happen next for BTC?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.