Morning update for you all regarding BTC's trajectory. However, this is still not the point where BTC will return to its lower price range around 7x. That’s why I sent another update in the chat at noon.
We previously discussed the short x40 position of a whale with millions of dollars. If that whale did not take profit last night, their short signal is in serious trouble, as liquidation is imminent. If the whale's wallet has not yet closed the short x40 BTC position, it will soon be liquidated.
So, how will BTC move today?
H1 cycle: A small correction is expected.
H4 cycle: Short-term uptrend continues, with upward movement expected around the 15:00 and 19:00 candles today.
H4 cycle projection: Gradual upward trend followed by a strong price surge reaching 88K.
Trading Plan: LONG, not short at this moment. We will look for short opportunities once H4 completes its cycle. Right now, avoid shorting based on H1, as buying pressure will push the price up rapidly.
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The RainBow MG3 Indicator identifies trends, reference prices, wave start times, and trend endpoints while sending alerts to your personal Telegram. Join the RainBow MG3 community on Telegram: t.me/rainbowmg3
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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.