Bitcoin will have a short-term pullback before rising!!
Updated
Bitcoin is at a tipping point, and my analysis suggests we might see a dip before heading higher. The price is currently hovering around $96,400, but the imbalance zone near $81,534 could act as a magnet for a pullback. This correction would give the market time to reset and gather strength for a potential rally toward the $114,894 target.
In this post, I’ll break down why this pullback might happen, the risks involved, and how we could still hit that big target. Stay prepared for the move—it could set the stage for a massive opportunity! Let’s dive into the details.
*Detailed Technical Analysis*
1. Trend Analysis
Primary Trend: The chart shows a strong uptrend leading into the current consolidation. Higher highs and higher lows are evident, a hallmark of a bullish market structure.
Short-Term Trend: The recent sideways movement near $95,000–$97,000 suggests consolidation, which could be either accumulation or distribution.
2. Key Levels
Resistance Zone: The consolidation range ($95,000–$97,000) is acting as a key resistance area. A break above this zone with volume could confirm bullish momentum.
Support Zone: The highlighted imbalance region around $81,534.28 serves as critical support. This level aligns with untested zones where price might rebalance liquidity.
Upside Target: The $114,894.07 mark is a logical resistance target if the uptrend continues. It may align with Fibonacci extensions or psychological levels (near $115,000).
3. Imbalance Zone
Imbalance zones occur when price moves quickly, leaving unfilled buy or sell orders. Price often revisits these areas to test liquidity.
Risk: If price breaks below $95,000, a swift move toward $81,534.28 becomes likely, creating a bearish short-term scenario.
4. Volume Analysis
The volume is decreasing during consolidation, indicating reduced participation. This suggests that a breakout (up or down) is likely accompanied by increased volume.
5. Risk and Reward
Bullish Scenario:
Entry: Above $97,000 with confirmation of breakout (volume and candle close above resistance).
Target: $114,894.07 (+18.7% from $96,417.62).
Stop Loss: Below $95,000 (-1.5% risk).
Risk-Reward Ratio: Approximately 12.5:1 (highly favorable).
Bearish Scenario:
Entry: Below $95,000 with a clear breakdown.
Target: $81,534.28 (-15.4% from $96,417.62).
Stop Loss: Above $97,000 (+1.5% risk).
Risk-Reward Ratio: Approximately 10:1 (favorable).
In this post, I’ll break down why this pullback might happen, the risks involved, and how we could still hit that big target. Stay prepared for the move—it could set the stage for a massive opportunity! Let’s dive into the details.
*Detailed Technical Analysis*
1. Trend Analysis
Primary Trend: The chart shows a strong uptrend leading into the current consolidation. Higher highs and higher lows are evident, a hallmark of a bullish market structure.
Short-Term Trend: The recent sideways movement near $95,000–$97,000 suggests consolidation, which could be either accumulation or distribution.
2. Key Levels
Resistance Zone: The consolidation range ($95,000–$97,000) is acting as a key resistance area. A break above this zone with volume could confirm bullish momentum.
Support Zone: The highlighted imbalance region around $81,534.28 serves as critical support. This level aligns with untested zones where price might rebalance liquidity.
Upside Target: The $114,894.07 mark is a logical resistance target if the uptrend continues. It may align with Fibonacci extensions or psychological levels (near $115,000).
3. Imbalance Zone
Imbalance zones occur when price moves quickly, leaving unfilled buy or sell orders. Price often revisits these areas to test liquidity.
Risk: If price breaks below $95,000, a swift move toward $81,534.28 becomes likely, creating a bearish short-term scenario.
4. Volume Analysis
The volume is decreasing during consolidation, indicating reduced participation. This suggests that a breakout (up or down) is likely accompanied by increased volume.
5. Risk and Reward
Bullish Scenario:
Entry: Above $97,000 with confirmation of breakout (volume and candle close above resistance).
Target: $114,894.07 (+18.7% from $96,417.62).
Stop Loss: Below $95,000 (-1.5% risk).
Risk-Reward Ratio: Approximately 12.5:1 (highly favorable).
Bearish Scenario:
Entry: Below $95,000 with a clear breakdown.
Target: $81,534.28 (-15.4% from $96,417.62).
Stop Loss: Above $97,000 (+1.5% risk).
Risk-Reward Ratio: Approximately 10:1 (favorable).
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