Bitcoin hit its new local high this week. On which he formed a bearish block order. After that, he tested the 50% zone of this block order twice, thereby confirming it. Based on this, a fairly strong bearish momentum can be expected. Also, judging by the indicators, Bitcoin is now locally overbought, which gives grounds for a likely correction. On the chart below, we see two bullish imbalances that Bitcoin can absorb in the future. There is also local liquidity in the areas of these imbalances, which can become a good magnet.
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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.