Here's what I see playing out for BTC!
The holiday season is near, and itโs going to be tough for Bitcoin to break past the massive 100K resistance wall.
๐น Weโve retraced to 91K and are now trading around 94K USD, bouncing off the preliminary fib line on the ๐๐๐ indicator (see pic 1). This suggests that the strong downtrend may be over, but we need the candle to close first to confirm. Thereโs still a chance we remain in a downtrend, just at a slower pace.
๐ฆ๐ฐ๐ฒ๐ป๐ฎ๐ฟ๐ถ๐ผ๐ ๐๐ผ ๐ช๐ฎ๐๐ฐ๐ต:
๐๐ค๐ฆ๐ฏ๐ข๐ณ๐ช๐ฐ ๐ (๐๐ถ๐ญ๐ญ๐ช๐ด๐ฉ):
BTC moves up towards 96.5K-97K USD and faces heavy resistance. If we manage to break above that level, thereโs a solid case to revisit the ATH levels.
๐๐ค๐ฆ๐ฏ๐ข๐ณ๐ช๐ฐ ๐ (๐๐ฆ๐ข๐ณ๐ช๐ด๐ฉ):
If price closes or drops back below the blue preliminary fib line, the strong downtrend isnโt over yet, and we could head lower towards the anchored VWAP (pic 1). Iโve mapped out some LONG setups for you in case this happens:
For the bears, the lowest levels I see for now are around ๐ณ๐ฒ,๐ฑ๐ฌ๐ฌ-๐ณ๐ณ,๐ฑ๐ฌ๐ฌ ๐จ๐ฆ๐, and hereโs why:
This is the Fib Golden Pocket of the move, measured from the pivot low to the pivot high of the recent uptrend.
The 200 Day EMA on the 8H Chart is sitting in this zone around 77100.
It aligns with the Volume Profile anchored to the โกPower Candle visible on the bottom left of the chart, which kickstarted the entire move upwards.
Itโs also the 1.618 downward extension of the previous leg down, as shown on the Daily chart analysis (see Twitter for pic 2).
Additionally, this zone is reinforced by key manual fib lines and the blue Bullish Fib Pockets dynamically plotted by the ๐๐๐.
The Volume Profile is also fat around this area, I donโt expect Bitcoin to drop much lower than this zone unless something major shifts.
https://x.com/POOLSIDECALLS/status/1861786544610201922
๐น Weโve retraced to 91K and are now trading around 94K USD, bouncing off the preliminary fib line on the ๐๐๐ indicator (see pic 1). This suggests that the strong downtrend may be over, but we need the candle to close first to confirm. Thereโs still a chance we remain in a downtrend, just at a slower pace.
๐ฆ๐ฐ๐ฒ๐ป๐ฎ๐ฟ๐ถ๐ผ๐ ๐๐ผ ๐ช๐ฎ๐๐ฐ๐ต:
๐๐ค๐ฆ๐ฏ๐ข๐ณ๐ช๐ฐ ๐ (๐๐ถ๐ญ๐ญ๐ช๐ด๐ฉ):
BTC moves up towards 96.5K-97K USD and faces heavy resistance. If we manage to break above that level, thereโs a solid case to revisit the ATH levels.
๐๐ค๐ฆ๐ฏ๐ข๐ณ๐ช๐ฐ ๐ (๐๐ฆ๐ข๐ณ๐ช๐ด๐ฉ):
If price closes or drops back below the blue preliminary fib line, the strong downtrend isnโt over yet, and we could head lower towards the anchored VWAP (pic 1). Iโve mapped out some LONG setups for you in case this happens:
For the bears, the lowest levels I see for now are around ๐ณ๐ฒ,๐ฑ๐ฌ๐ฌ-๐ณ๐ณ,๐ฑ๐ฌ๐ฌ ๐จ๐ฆ๐, and hereโs why:
This is the Fib Golden Pocket of the move, measured from the pivot low to the pivot high of the recent uptrend.
The 200 Day EMA on the 8H Chart is sitting in this zone around 77100.
It aligns with the Volume Profile anchored to the โกPower Candle visible on the bottom left of the chart, which kickstarted the entire move upwards.
Itโs also the 1.618 downward extension of the previous leg down, as shown on the Daily chart analysis (see Twitter for pic 2).
Additionally, this zone is reinforced by key manual fib lines and the blue Bullish Fib Pockets dynamically plotted by the ๐๐๐.
The Volume Profile is also fat around this area, I donโt expect Bitcoin to drop much lower than this zone unless something major shifts.
https://x.com/POOLSIDECALLS/status/1861786544610201922
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