BTC had really good rally so far and looks cooling down and printing bearish RSI divergence in 1D chart.
I feel early next week it may retest ATH (even break above for a brief) grab liquidity and RSI will create lower high. It will trap liquidity and start downward trend and chances of having deep pull back to 73k and consolidate. BTC dominance might reach around 59%. This all happens before Trump's inauguration.
FOMC meeting coming next week, expect some volatility.
Be cautious for next few days.
This will invalidate if we have weekly close above ATH with good volume.
I feel early next week it may retest ATH (even break above for a brief) grab liquidity and RSI will create lower high. It will trap liquidity and start downward trend and chances of having deep pull back to 73k and consolidate. BTC dominance might reach around 59%. This all happens before Trump's inauguration.
FOMC meeting coming next week, expect some volatility.
Be cautious for next few days.
This will invalidate if we have weekly close above ATH with good volume.
Note
Trend changing on BTC dominance at 4H timeframe. Keep and eye, it may reach to 61% within few weeks.
It may drop for a week and take inducement and start climbing higher.
Note
Be cautious, BTC breakout of 1H Lower high could be fake out. waiting for confirmation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.