BTC Technical Analysis 1st Quarter!
Greetings and Happy new Year fellow Investors Traders and ofcourse beez!
In our today's post we will analyze BTC next moves in the upcoming months (Q1), taking into account all technical factors that may affect the price behavior and consequently price volatility . In particular from a technical point of view, BTC after testing the area around 18400$, it created a huge Bearish Orderblock ( Resistance area ), effective immediately, and reached the PoC (point of control at the level of 16550$ and has been consolidating since then. It is also important to mention that, Bullish Divergence in Volume has been forming since then in the Chart: Volume decreases steadily - Price making higher lows, hence Bulls are in control. Taking under consideration all these statements, let's get to it!
As we can clearly observe on the chart, we retested the minor Orderblock at 16800$, and the price retraced to the PoC immediately! That's a good sign considering big moves tend to occur, after a huge period of consolidation. Planning forward, after retesting the lows at 16350$ in the forthcoming days, we expect price to move accordingly:
Consequently after analyzing the technical perspective, we plan to move based on the above-mentioned!
Keep in mind though, when everyone seems optimistic, be pessimistic, and visa versa.
IMPORTANT: This is strictly a Technical Analysis and Fundamentals CAN affect our Analysis!
Not a Financial Advise!
Trade with Caution!
Best Regards, CryptoQueens.
In our today's post we will analyze BTC next moves in the upcoming months (Q1), taking into account all technical factors that may affect the price behavior and consequently price volatility . In particular from a technical point of view, BTC after testing the area around 18400$, it created a huge Bearish Orderblock ( Resistance area ), effective immediately, and reached the PoC (point of control at the level of 16550$ and has been consolidating since then. It is also important to mention that, Bullish Divergence in Volume has been forming since then in the Chart: Volume decreases steadily - Price making higher lows, hence Bulls are in control. Taking under consideration all these statements, let's get to it!
As we can clearly observe on the chart, we retested the minor Orderblock at 16800$, and the price retraced to the PoC immediately! That's a good sign considering big moves tend to occur, after a huge period of consolidation. Planning forward, after retesting the lows at 16350$ in the forthcoming days, we expect price to move accordingly:
- Test the HUGE Orderblock at 17700$,
- Reject to the newly formed lowest resistance at 16800$
- Retest the Bearish Orderblock
- Consolidate inside the area between 17700$ -18400$, building up capital for the next leg up
- Market makers move the Price to SL hunt area, liquidating retailers, and convincing them a leg down is on the rails.
- Price pumps breaking the OB and finally filling the Fair Value Gap Area around 19500$ - 20000$, building inner confidence to the retailers, indicating us a Reversal. TIP: Reversals do tend to occur, when everything indicated the opposite!
- Breaks all support areas and creates a new low below 15500$.
Consequently after analyzing the technical perspective, we plan to move based on the above-mentioned!
Keep in mind though, when everyone seems optimistic, be pessimistic, and visa versa.
IMPORTANT: This is strictly a Technical Analysis and Fundamentals CAN affect our Analysis!
Not a Financial Advise!
Trade with Caution!
Best Regards, CryptoQueens.
Related publications
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.