BTC is in correct mode

BTC started a double pump of the price, but we are long way from halving, so it's unlikely we see another pump of the price. Could possible be on the day of ETF approval. Right now we have SFP on daily chart which means that we are in correction mode (downtrend). Currently we have completed the local corrections of the latest pumps (Fibonacci retracement between 0.618 and 0.5) Now it's only left for us to complete correction for the big move and hit the order block where the gap is. It's possible we first hit the gap at 41k (where 40M long orders are sitting at). Then we retrace back up a bit to trap long positions and we hit another low at 35k (could go lower 30-32k), because there's a lot of liquidity sitting there. And only then we have a healthy correction to go up from. Not quite sure if this will happen before 10th of January and it may get intercepted by the news or the news could get delayed (it wouldn't surprise me). Usually the biggest drop is whenever the EMA100 reaches the current price and then free fall.

Commentaire:

Missed the second bounce on the anticipated correction, but overall the main move played out.