Bitcoin(BTC): 2 Strong Weekly Candles / Bitcoin Need Correction
Bitcoin has now 2 very strong weekly candles where buyers have shown strong dominance, which leaves no room for sellers.
Despite that we had good upward movement so far, we have recently broken the major resistance zone at 70K, which still needs to be re-tested and secured by buyers.
As buyers haven't secured this zone yet, we are seeing a big possibility of price having a reversal and a movement to 70K (from where we expect to see some fight between buyers and sellers).
Re-testing this major zone there would benefit all coins and alt's as well, as we might see 24-30% of correction on Bitcoin while on ALTs we might see bigger numbers.
This would be ideal to reset the numbers and start with a proper bull market run (only if buyers manage to secure back that 70K zone).
So we wait for the 70K zone to be reached; be careful; a lot of liquidation hunting might happen very very soon!
Swallow Team
Despite that we had good upward movement so far, we have recently broken the major resistance zone at 70K, which still needs to be re-tested and secured by buyers.
As buyers haven't secured this zone yet, we are seeing a big possibility of price having a reversal and a movement to 70K (from where we expect to see some fight between buyers and sellers).
Re-testing this major zone there would benefit all coins and alt's as well, as we might see 24-30% of correction on Bitcoin while on ALTs we might see bigger numbers.
This would be ideal to reset the numbers and start with a proper bull market run (only if buyers manage to secure back that 70K zone).
So we wait for the 70K zone to be reached; be careful; a lot of liquidation hunting might happen very very soon!
Swallow Team
Nota
On a daily timeframe, we are seeing that since the 12th of November, sellers have started to fight the buyers, with liquidity movements occurring in both ways.
We are now waiting for sellers to show further dominance here and form a MSB on smaller timeframes (which would result in a switch of trend and hunting of FVG zones).
Marketprice has drifted away from EMAs + broken zone without a re-test + lot's of liquidity on lower zones + ALT coins not reacting much to this pump = possible good turnover point!
Nota
Bitcoin on a smaller timeframe is still trading in a sideways movement with a slight upward pressure here.
We see that both buyers and sellers are fighting over the current zone near ATH, which gives us almost no clarity of upcoming movement so we are waiting for 1 of 2 outcomes here.
We need to see the price break the zone of
88K
, which would result in a possible movement to lower the CME gap near 75K.
This kind of movement could benefit an upcoming bullish run so we need one healthy correctional movement here!
Swallow Team
Nota
Bitcoin on a smaller timeframe is still trading in a sideways movement with a slight upward pressure here.
We see that both buyers and sellers are fighting over the current zone near ATH, which gives us almost no clarity of upcoming movement so we are waiting for 1 of 2 outcomes here.
We need to see the price break the zone of
88K
, which would result in a possible movement to lower the CME gap near 75K.
This kind of movement could benefit an upcoming bullish run so we need one healthy correctional movement here!
Swallow Team
Trade attivo
Another day, and bitcoin is still pushing, forming new ATHs, and trying to secure that 6-figure number.
While we are not that far away from $100,000, we are expecting to see some kind of pullback (for which we are getting ready as well).
Despite that, we do not see currently any weakness on the markets, and we are confident that we will get one, so here is the plan.
Most likely we will see soon that quick touch to 100K (maybe
97K, which would mean we will come back soon up to claim the 100K).
After the current smaller push, we expect to see a very sharp selloff to take place, which would result in a market-strategic break and movement to a major broken resistance zone (which is at 70K and still waiting for a re-test).
A lot is happening currently on the markets, so be alert, stay safe, and do not overleverage!!!
Nota
Bitcoin is still climbing and slowly approaching the major resistance zone (well, not real resistance but more of psychological resistance, as we have mentioned it previously).
Not that price has expanded this high, which most likely will satisfy a lot of bulls we see are going to look now for a possible liquidation hunting to happen, which would ideally backtest the lower zones.
The current zone is very dangerous, so stay safe and be cautious!!
Nota
Bitcoin has almost reached 100K, which has been a major target zone for many bullish people. With Bitcoin's popularity comes a lot of stupid money into the markets, which means we are getting ready for a possible liquidity sweep to happen in the upper and lower zones.
We are looking to see a liqudity grap to upper zones as many people are slowly switching to shorts (based on liqudiity heatmaps), which would start then a possible liqudiity sweep to lower zones, which will be much bigger.
Stay safe and keep your attentions on zones like 105K and
88K as of now!
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Join our amazing team and be part of something bigger.
FREE: t.me/+fiEDSn7M9pJkODA0
🚨 Authentic Mentoring
⚡️ Short-Term + Mid-Term Trades
Join our amazing team and be part of something bigger.
FREE: t.me/+fiEDSn7M9pJkODA0
⚡️ Short-Term + Mid-Term Trades
Join our amazing team and be part of something bigger.
FREE: t.me/+fiEDSn7M9pJkODA0
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