⚡️ Hello, everyone! As I said in my previous ideas, the correction is just beginning. Some people link this to the hostilities in the Middle East.
But, in reality, this is just a way to find a reason. In fact, the charts have long predicted a correction, which I have been actively talking about for the last month.
📊 Let's take a look at what lies ahead:
Having gathered liquidity below 100k, we are now seeing a short-term rebound. For me, the maximum target for this rebound is 106,000-107,000.
We have started to close the GAP at levels of 102,760 - 97,400. I expect it to close completely, after which we can move into a range. The next GAP is at levels of 93,280 - 85,230. So the further direction of movement is also obvious. After all, in 99% of cases, gaps close sooner or later.
⚙️ Metrics and indicators:
Money Flow - liquidity has been declining for more than half a year. This updated ATH was accompanied by a significantly smaller inflow of capital and formed a divergence. This means that there is still no new liquidity in Bitcoin, and for it to move higher, a new catalyst and cheaper prices are needed.
Liquidity Depth - as we know, the price tends to move from one liquidity zone to another. And now, there is significantly more liquidity at the bottom than at the top.
Dynamic Support/Resistance - Currently, 99,890 is a strong support level. However, each time we move lower below it. So I am confident that this level will be broken in the near future. The next major support level is 91,460.
Volume - is another indicator of the lack of new liquidity in Bitcoin. Since November 2024, purchase volumes have continued to decline!
📌 Conclusion:
I don't expect us to see Bitcoin at 60,000 before the fall. But 80,000 by September is quite possible. The fact that we will probably test the 90,000 level is not even up for discussion. Unless, of course, a new bullish catalyst appears. Altcoin ETFs are not even close to being one.
So, for now, I advise everyone to be patient and not try to predict the bottom. Prepare your bags for spot purchases, sit back in your chair, and enjoy the show!
🔥 Have a great week, everyone! 🔥
But, in reality, this is just a way to find a reason. In fact, the charts have long predicted a correction, which I have been actively talking about for the last month.
📊 Let's take a look at what lies ahead:
Having gathered liquidity below 100k, we are now seeing a short-term rebound. For me, the maximum target for this rebound is 106,000-107,000.
We have started to close the GAP at levels of 102,760 - 97,400. I expect it to close completely, after which we can move into a range. The next GAP is at levels of 93,280 - 85,230. So the further direction of movement is also obvious. After all, in 99% of cases, gaps close sooner or later.
⚙️ Metrics and indicators:
Money Flow - liquidity has been declining for more than half a year. This updated ATH was accompanied by a significantly smaller inflow of capital and formed a divergence. This means that there is still no new liquidity in Bitcoin, and for it to move higher, a new catalyst and cheaper prices are needed.
Liquidity Depth - as we know, the price tends to move from one liquidity zone to another. And now, there is significantly more liquidity at the bottom than at the top.
Dynamic Support/Resistance - Currently, 99,890 is a strong support level. However, each time we move lower below it. So I am confident that this level will be broken in the near future. The next major support level is 91,460.
Volume - is another indicator of the lack of new liquidity in Bitcoin. Since November 2024, purchase volumes have continued to decline!
📌 Conclusion:
I don't expect us to see Bitcoin at 60,000 before the fall. But 80,000 by September is quite possible. The fact that we will probably test the 90,000 level is not even up for discussion. Unless, of course, a new bullish catalyst appears. Altcoin ETFs are not even close to being one.
So, for now, I advise everyone to be patient and not try to predict the bottom. Prepare your bags for spot purchases, sit back in your chair, and enjoy the show!
🔥 Have a great week, everyone! 🔥
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.
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.