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When we think that market is very bullish then market will bleed very badly
and when we think that market is bleed and very bearish then the market will
go sky rocket.
1st liquidity area is cleared but there is another area of liquidity. market can test that area ( 45600 )
4hour 50ma and 200ma crossover is very important and when crossover happens that will be another confirmation of a new bull rally toward.
4H MA CROSSOVER IS GOING TO HAPPEN IN FEW HOURS.
market is clearing out all liquidity so both these areas are important .
smart money is accumulation btc and if they want to go up then they want minimum people to go up with them . so let them clear all stoploss and then enter.
LEARN SMART MONEY INSTEAD OF RETAIL BECAUSE THEY MOVE THE MARKET NOT RETAL TRADERS
if btc holds this trendline then btc will make a new ATH soon.
price can test this trendline again and make double bottom and then start a new rally.
this trendline must be hold.
right now btc is at its golden zone 0.5fib and 0.68fib level.
in weekly timeframe market is ready for another bull run towards 85k.
market is also at trendline. market can test 52,53k level and then can move up.
in 4H timeframe 50ma and 200ma cross has already happened and now price is making lower high and lower low .
rsi is also below 50 in 4h timeframe. price can test 52k important support.
In weekly charts rsi is going up in trend and if RSI respects trendline then btc/usd market can go up to a new high.
on the other hand if rsi does not respect TRENDLINE then maket can test 50k or 52k level . which is highly demand zone
in weekly chart it is clear that rsi is not even close to overbought .
rsi is at 66 . price just testing previous support.
the bigger timeframe you chose the better results you will get.
bitcoin is in uptrend channel for short term if btc breaks this channel then btc can test 47k.
bitcoin needs correction for big rally.
strong demand zones
