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Wise Analyze
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Bullish
📉 Bitcoin Daily 📈
$BTC followed bearish momentum and dipped lower to Day 20sma ✅ But it wasn't crypto alone - stocks and gold also crashed. Everything moved together.
Before zooming in lets review higher TF. Month still bullish, while week chart slow down in momentum after growing by 62% from the beginning of November. So if #Bitcoin close this week same way, high chances to see some kind of correction within nearest 2 months. Can be a sharp move down, can be a slow pulling back with lower TF dips and pumps, till it shake every retailer out and resume higher timeframe uptrend.
Short term: two levels I'd like to mark out. The first one is SR around 103k which previously stopped the dump, but failed to do so on the second approach. Now it acts as resistance. Another level is Tuesday low - on day chart #BTC formed a FVG up to that price, so logical to assume it will try to cover at least half of it on the bounce. It also correlates with developing Year VAH3, so that will be bearish re-test (if gets there).
Nearest liquidity pools:
above - 102585 / 103342 / 104100 / 104855
below - 100694 / 100032 / 99275 / 98518
$BTC followed bearish momentum and dipped lower to Day 20sma ✅ But it wasn't crypto alone - stocks and gold also crashed. Everything moved together.
Before zooming in lets review higher TF. Month still bullish, while week chart slow down in momentum after growing by 62% from the beginning of November. So if #Bitcoin close this week same way, high chances to see some kind of correction within nearest 2 months. Can be a sharp move down, can be a slow pulling back with lower TF dips and pumps, till it shake every retailer out and resume higher timeframe uptrend.
Short term: two levels I'd like to mark out. The first one is SR around 103k which previously stopped the dump, but failed to do so on the second approach. Now it acts as resistance. Another level is Tuesday low - on day chart #BTC formed a FVG up to that price, so logical to assume it will try to cover at least half of it on the bounce. It also correlates with developing Year VAH3, so that will be bearish re-test (if gets there).
Nearest liquidity pools:
above - 102585 / 103342 / 104100 / 104855
below - 100694 / 100032 / 99275 / 98518
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