BTC on the edge of another sharp move

📉 Daily Bitcoin chart review 📈

BTC volume drop to minimum. Price is below all moving averages, forming bear flag. Nothing in this chart is bullish except volume distribution, which hints dips were bought but not yet sold. I've also added trendlines to show where main zones of shorts and long orders hide - obviously above and below them.

What's next? Anything 😎 Dump to ~8500 / 7100 or pump to ~9500 / 11400. Have no magic ball for that chart.

🟥 9300 - 9450 - 9600 - 9745 - 9880
🟩 9050 - 8888 - 8666 - 8530 - 8300

😱 Fear & Greed index: 43 (<= 40 <= 43 <= 50)
👑 BTC Dominance: 64.5% (<= 64.4 <= 64.4 <= 64.6)
⚙️ 24h Volume: $57 billion (<= 73 <= 73 <= 63)

Commentaire:

📉 Daily Bitcoin chart review 📈

Bear flag worked out as it should have. BTC is fully on bearish trend tracks. We may expect re-test of 9130-9200 zone. Bullish bounce that would give more liquidity is to ~9450. In general I think this zone is good for a bounce which should last till Monday at least, as CME Futures have to close gap there (if there will be any).

After gap closed either dump to ~8500 / 7100 or pump to ~9450 / 11400.

🟥 9300 - 9450 - 9600 - 9745 - 9880
🟩 8888 ✅ 8666 - 8530 - 8300 - 7700

😱 Fear & Greed index: 40 (<= 43 <= 40 <= 43)
👑 BTC Dominance: 64.8% (<= 64,5 <= 64.4 <= 64.4)
⚙️ 24h Volume: $62 billion (<= 57 <= 73 <= 73)

Commentaire:

📉 Daily Bitcoin chart review 📈

Yesterday forecast for re-test of 9130-9200 zone done - hit 9188 ✅ If it won't bounce from 9030-9055 zone we may expect dump to ~9888 and pump to 9100-9300. Bearish scenario - continuation of current downtrend with falling lower to ~8666 area and below.

CME Futures opened without gaps, so no hints there. Mid term forecast stay the same - dump to ~8500 / 7100 or pump to ~9450 / 11400.

🟥 9200 - 9300 - 9450 - 9600 - 9745
🟩 8888 - 9816 - 8666 - 8530 - 8300

😱 Fear & Greed index: 41 (<= 40 <= 43 <= 40)
👑 BTC Dominance: 64.9% (<= 64.8 <= 64.5 <= 64.4)
⚙️ 24h Volume: $54 billion (<= 62 <= 57 <= 73)

Commentaire:

📉 Daily Bitcoin chart review 📈

So Bitcoin bounced to 9140 resistance as expected ✅ But after the bounce stuck within middle diagonal channel. Usually when it fails to grow together with falling volume, it falls. At the same time we have a potential higher low at 4H chart, so in case next dump will be picked up higher, this may lead to partial recovery that may finally push BTC higher to 9450 zone. But most probably not today - today main move is down.

Yesterday price bounced from 89 EMA at daily, and 21 EMA is at 9275. This would be our price range.

🟥 9140 - 9295 - 9450 - 9600 - 9745
🟩 9000 - 8888 ✅ 9816 - 8666

😱 Fear & Greed index: 41 (<= 42 <= 42 <= 44)
👑 BTC Dominance: 64.4% (<= 64.6 <= 64.7 <= 64.7)
⚙️ 24h Volume: $54 billion (<= 58 <= 56 <= 55)

Commentaire:

📉 Daily Bitcoin chart review 📈

Bitcoin wicked to 9194 and that was local top for the move. Now back to where it started. Today's nearest targets are at ~9110 and 9000. Tomorrow CME should close the gap (if there will be any) at 9125, so BTC shouldn't move far from that value. That gives a hope for price to stay within current channel.

4H EMA21 at 9108 and MAVW at 9187. These are nearest dynamic resistance levels. Day EMA89 at 8936 as support.

🟥 9140 - 9200 - 9295 - 9450
🟩 9000 - 9050 - 8888 - 9816

😱 Fear & Greed index: 38 (<= 40 <= 41 <= 42)
👑 BTC Dominance: 64.2% (<= 64.3 <= 64.4 <= 64.6)
⚙️ 24h Volume: $48 billion (<= 48 <= 54 <= 58)