BTC-4h. Everything will be solved in the range of $39000-40000.
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The local wave of fall in the BTC market, which began on January 14, is coming to an end. For the third time, sellers are trying to push the price at least to the liquid range of $32000-33000, but to no avail. If the beginning of the fall in the price of BTC looked quite active (from 15 to 17 January), the new attempt of sellers from 19 January shows the total weakness of this attack.
Trading volumes during the fall in prices are low, which confirms the continuation of consolidation in the BTC market. If the market situation remains unchanged, today we will see the beginning of a new wave of growth, which should determine the medium-term movement of the BTC price.
Breaking the top line of the triangle will not mean victory for buyers and the continuation of the bul wound. If we look at where exactly the price of BTC slowed down, we will see a strong liquidity range of $39000-40000.
Therefore, paying attention to price movements in the range of $33,000-40,000 makes sense for those people who like to trade within the consolidation.
And for medium-term traders, you should wait for the test in the range of $39000-40000. It is during the attack of this range that it will become clear whether the balance of power in the BTC market has changed.
Weak dynamics of price growth and low volumes during the $39000-40000 test will be a signal that the correction in the BTC market is just beginning. In this case, our target of $26,200 will work.
In the previous idea, we demonstrated that the trend line of buyers is broken. However, breaking the $39,000-40,000 range, the BTC price will start moving in the new channel and no longer aggressively update historical highs. In this case, the next target of buyers will be $50,000.
It remains to wait for a critical point. As soon as buyers reach this range, we will release a new idea.
________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
Trading volumes during the fall in prices are low, which confirms the continuation of consolidation in the BTC market. If the market situation remains unchanged, today we will see the beginning of a new wave of growth, which should determine the medium-term movement of the BTC price.
Breaking the top line of the triangle will not mean victory for buyers and the continuation of the bul wound. If we look at where exactly the price of BTC slowed down, we will see a strong liquidity range of $39000-40000.
Therefore, paying attention to price movements in the range of $33,000-40,000 makes sense for those people who like to trade within the consolidation.
And for medium-term traders, you should wait for the test in the range of $39000-40000. It is during the attack of this range that it will become clear whether the balance of power in the BTC market has changed.
Weak dynamics of price growth and low volumes during the $39000-40000 test will be a signal that the correction in the BTC market is just beginning. In this case, our target of $26,200 will work.
In the previous idea, we demonstrated that the trend line of buyers is broken. However, breaking the $39,000-40,000 range, the BTC price will start moving in the new channel and no longer aggressively update historical highs. In this case, the next target of buyers will be $50,000.
It remains to wait for a critical point. As soon as buyers reach this range, we will release a new idea.
________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
Note
Volumes have increased, but buyers are holding a critical range of $32000-33000
Note
If buyers do not regain $32000-33000 under the control by the end of the day, the fall will continue tomorrow with the first local stop of $29500-30000. So far, a positive scenario for buyers to continue to grow within the triangle. However, the chances of continued growth without correction have fallen significantly.
Note
The price has reached our local target. Buyers lost the mark of $32000-33000. Today we will make a new local idea.
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