BTC/USD Weekend MovePotential BTC/USD Directional move for the weekend as we head our way out of the premium zone into discount.
4hr chart:
Key levels of $69,859 would need to be mitigated to show any further strngth to the upside, however we have already sweept the liquidity resting at the 4hr fair value gap and price action seems to be having a bearing reversal pattern with the 20 ema heading to cross the 50 along with the 50 changing trajectory to face to 100.
This move could be to tap into the decisional and extreme order blocks at $68,171 and $67,271 could then allow for a reversal and rightly so placing it conveniently within the discount zone on the PD array, the MACD would be sitting below 0 making it an optimal area for entry on the buy side as long as we get a clean reaction off $66,101, which would sit us perfectly on the 200EMA.
Failing that we'll continue to head down to test $63,626 and at that pointthis would be the beggining of a bearish reversal on the 4hr. Certainly on the daily:
Which would make sense since we seem to seem to have reached heavy resistance to the upside on the weekly: giving us more confirmations that we are in premium so sells are imminent as a liquidity grabe before heading into a markdown phase or we pull back up to continue the ranging market structure.
Happy Trading and a good Sunday too you all.
