Bitcoin Anticipating the Next Move

23 sept.

Bitcoin is approaching a critical level at $65,000, where significant selling volume is expected. The market's reaction at this point will largely depend on the timeframe in which this volume appears, setting the stage for Bitcoin's next targets.

📝 Scenario 1: Volume Validation on the 1D Timeframe

In the worst-case scenario, if the selling volume is validated on the daily (1D) timeframe, we could see a target at the newly formed weekly Fair Value Gap (FVG)—assuming it forms by the end of this week. If the FVG doesn't materialize, the immediate target shifts to $52,500. From there:

• Bounce Back: A rebound to the $57,000-$59,000 range.
  
• Deeper Dive: A subsequent drop to $42,300, potentially leading to retail capitulation.
  

⏰ Scenario 2: Volume Validation on the 4H Timeframe

Alternatively, if the volume validation occurs on the 4-hour (4H) timeframe, we might experience:

• Minor Correction: A brief pullback.
  
• Continued Growth: An upward move updating the range up to $84,000.
  

At $84,000, market makers may execute large sell orders, leading to a significant correction of 20-30%, potentially initiating a new downtrend cycle.

🎯 Key Takeaways

• Monitor Timeframes: The timeframe of volume validation at $65,000 is crucial.
  
• Be Prepared: Different scenarios point to either a substantial correction or continued growth before a major pullback.
  
• Stay Informed: Keep an eye on market indicators and be ready for swift movements.
  

🔍 This analysis is for informational purposes only and should not be considered financial advice. Always do your own research before making investment decisions.