Bitcoin: Waiting for completion of pullback wave (H1).

Updated

Bitcoin made a nice bounce from its H1 key level and now I'm watching for a pullback into the POI zone for continuation of the trend. Wait for confirmation on this zone and trade accordingly.

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Flawless price action thus far; indicating accumulation in this area above its primary key level.

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Still waiting for the POI zone. Not interested here. Only if 67k is broken the POI zone is invalid.

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As of my last comment, sell orders kicked into the market and price has been rejected at M15 down key level. I am "patiently" awaiting the POI zone...

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Here we are. Nice reaction also.

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Price respected my preferred zone precisely, forming an accumulation range that soaks up any selling pressure in this area before going up.

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Another inch-perfect analysis 🔥

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How can I effectively anticipate market movements with confidence?
✅ DOs: Understand the genuine narrative driving price movements
❌ DON'Ts: Depend solely on arbitrary chart drawings

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Beautiful retest of the POI zone.

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Either you're bullish or out of your mind :D

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Well,l I tried to warn you. No market can outrun me 😈

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Comment your favorite coins, I'll publish my analysis for them.

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BTC is heading to the 72-73k area. That's my target.

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Bitcoin is currently at a critical moment. Whether it breaks above or gets rejected around the 72-73k zone will determine what happens next in the market.

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Currently, price is consolidating within a range, and the possibility of a pullback remains uncertain. If a pullback does occur, my initial buy zone would be around 66k. In the event of a more significant pullback, I would consider the 62-63k area. It's important to note that the pullback hasn't been confirmed yet, so there's still potential for another upward movement. Patience is advised while awaiting confirmation.

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Price is still within a range (68.3k-71.7k). I am just observing how this scenario unfolds. Personally, I avoid trading within ranges altogether. I view ranges as a battleground between buyers and sellers where predicting the outcome introduces unnecessary risks.

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I've mentioned before how trading within ranges can pose unnecessary risks. Currently, the key level for Bitcoin on the M15 timeframe, sits at 66k, while on the H1 timeframe, it hovers around 62-63k. Let's observe how the price moves.

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The market isn't showing any bearish signs; it's simply moving in the direction it should be. Keep an eye on this range: 62260-63000.

iawhoman

Related publications

Bitcoin reached its H1 key level.

by iawhoman

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