BTC bounced exactly as speculated from 18.3k level.
In some exchanges low was around 18.1k for the day.
In this chart I want you to look at the wicks in the yellow boxes.
Wicks are MOMENTUM BUYERS AND SELLERS.
When you see the wicks at the top it means there is a selling pressure and when you see there are wicks at the bottom, it simply means there is a strong buying pressure in the chart.Remember, longer the wick higher the momentum.
So the momentum is shifting towards buyers in the short term.There's a lot of buying pressure in the lower time frames though the volume is low.The upper trendline of the channel touches the 20.3k to 20.6k level this is why I think BTC could reach there making a tripple top.
We will wait for the daily close now and see if the price reclaims a close above the 19k level. If that happens we can see btc again trying to break the 20k level.
You can see there isn't any resistance above 20k so it can go up a bit more.
Though people are thinking of moon right now a surprise correction is inevitable.
CONCLUSION : BTC will correct soon it's just that more and more late longs are being trapped. Be cautious.
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