BTC 4H. We came to the zone for a set of long positions (0.5 - 0.61 fib) relative to the entire 5-wave impulse structure marked on the chart, and on the classic volume indicator and on vrvp we see excellent volumes in the current area (it is most logical to see the reaction from this zone)
Market Update -btcusd
The signs are that we should see some volatility soon.
USDT dominance is coming to a decision point where the resistance trendline is meeting the support area on which it is currently sitting on. Lose the support and BTC moves up, breaks out and we see a pullback.
The Bitcoin Volatility Index is now at the October lows, which tells us...
On a pull back, $17k would be the level to re-test the previous resistance trendline as new support, but below that the $16.5 area is still of interest when it comes as there is fresh demand. I am looking for set-ups with strong demand levels on a pullback...
