The BTC price tested the significant level of $89,365. But is again pressing towards the significant level of $92,389, separating it from a new ATH.
The decline today was impulsive, which is amusing - literally right after the review, in which it was noted that the priority for the week is either a range or growth.
Trend resistance, which had previously acted as support for the uptrend since November 5, has still not been broken. But the interest of buyers in its vicinity is clearly present.
The price remains in the same local range between significant levels, $87,684-$92,389. But with increasing highs and lows.
The price in the local range, where the basic targets of sustainable trends perform well on lower time frames (for example - 15-minute, 30-minute), but worse on older time frames (for example, hourly).
The asset lacks volatility to realize the potential for larger movements. However, signals of potential highs and lows still perform well in such movements, especially when it comes to strong signals - such signals allow for effectively capturing local overbought/oversold conditions.
By the way, regarding volatility - the price volatility index #BTC has broken our forecast of declining volatility since November 2.
However, considering the elections in the States, this was to be expected. The candle structure for the Index is still bullish. This means that surprises may continue, and the expected more global range is unlikely to be long. Or at least - it's unlikely to be within the range of $87,684-$92,389.
