Will there be continued growth?
Last week, BTC reached its all-time high of 2023 at $44,700. In this post, I suggest you figure out when to wait for the next bullish impulse and what will the price be?
1️⃣ Bitcoin has reached a very important resistance of $44,100. Last year, major players designated it as a level for sale and, judging by the current price reaction, they continue to think so.
2️⃣ Despite the downward reaction from the level, its character indicates a willingness to buy BTC at lower prices: this is manifested both in the shadows of rejection and abnormal volumes in these shadows.
3️⃣ Limit densities typical for market makers have formed above the $43,500 extreme, which indicates that in the event of a breakdown they will actively sell. Also, a large cluster of shortlist liquidations has accumulated above the extreme, which hints at a high probability of breaking the extreme.
Priority scenario: formation of rotations in the range of $41,300 - $43,000 with a false extremum of $43,500. We expect a full-fledged resumption of the rally in 2024.