BTC-6h. The price is in the critical range.
The Christmas weekend has benefited the cryptocurrency market. The expected BTC price correction did not occur.
Buyers set a new all-time high of $28,422. The weekly candle closed positively.
However, the daily timeframe showed the presence of sellers and the likely slowdown in the growth of BTC prices. The sellers managed to close the daily candle with pin bar. On the smaller timeframes clearly show the activation of sellers in the range of $27400-27700. The price went according to the first scenario we published in our idea.
In this range, a small amount of liquidity has accumulated, which buyers will now test for strength. However, the nature of the fall in prices and the level of dominance of BTC in the crypto market inspires continued growth in the area of $30,000.
In addition, it should be noted that the growth of the price of BTC is accelerating. The red curve confirms this. The highlighted white range may be the beginning of a BTC price correction with a first target of $23780-24000.
_______________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
Buyers set a new all-time high of $28,422. The weekly candle closed positively.
However, the daily timeframe showed the presence of sellers and the likely slowdown in the growth of BTC prices. The sellers managed to close the daily candle with pin bar. On the smaller timeframes clearly show the activation of sellers in the range of $27400-27700. The price went according to the first scenario we published in our idea.
In this range, a small amount of liquidity has accumulated, which buyers will now test for strength. However, the nature of the fall in prices and the level of dominance of BTC in the crypto market inspires continued growth in the area of $30,000.
In addition, it should be noted that the growth of the price of BTC is accelerating. The red curve confirms this. The highlighted white range may be the beginning of a BTC price correction with a first target of $23780-24000.
_______________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
🎁 -20% on ALL trading fees OKX
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
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.