Since the end of March, the market has been experiencing a low-volume phase [see: black arrow].
Currently, even though we observe a potential double top formation, the market is unpredictable.
Our $40,000 expectation remains unchanged, but before that, there are two highly possible scenarios:
1 - Making a new bottom around the $28,300 level and continuing its path.
2 - Performing a liquidity cleanup between $25,250 and $26,000 and continuing its path.
Whichever of these two scenarios unfolds, it will present a buying opportunity for us.
Currently, even though we observe a potential double top formation, the market is unpredictable.
Our $40,000 expectation remains unchanged, but before that, there are two highly possible scenarios:
1 - Making a new bottom around the $28,300 level and continuing its path.
2 - Performing a liquidity cleanup between $25,250 and $26,000 and continuing its path.
Whichever of these two scenarios unfolds, it will present a buying opportunity for us.
Note
As mentioned earlier, the level of $28,300 worked.
Now we will observe a new dip formation in this area.
Note
In our long-term analysis, the liquidity zone between $25,250 and $26,000 that we previously mentioned has been sharply cleared due to the impact of macro-level news (SpaceX BTC sale, Evergrande bankruptcy). Currently, we are standing at the lower end of the range we have been monitoring, between $25,240 and $40,000.
We consider this area as a local bottom and anticipate a journey towards the range high level of $40,000. However, if negative news flow persists, we might descend to the imbalance zone between $20,695 and $23,900.
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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.
CryptoSignalAPP is the best crypto signal application.
Download to Earn
Get most profitable trading signals and information about market.
Keep your risk management.
Make profit !
cryptosignalapp.app.link
Download to Earn
Get most profitable trading signals and information about market.
Keep your risk management.
Make profit !
cryptosignalapp.app.link
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.