For BTC - the last day when the chances of reaching $100,000 before the correction/range are still high.
Although on Friday evening, it seemed like this was already a settled matter.
Signals indicate that buying pressure is increasing this weekend. According to our indicator, this is clearly visible on the 15-minute timeframe, where the targets of sustainable downtrends, not uptrends, are working out well since yesterday.
The picture on higher timeframes is generally a combo of ripe signals for correction:
- 12-hour timeframe - signals of a potential high for Friday-Saturday,
- daily timeframe - today is an additional signal of a potential high and a bearish (for now) candle,
- two-day timeframe - the last Strong signal of a potential high,
- weekly timeframe - the last Strong signal of a potential high.
Volume levels have slightly adjusted again, there are currently three important resistances for the asset: $97,553, $97,944, $98,433. While the price is below $97,553, the continuation of correction is definitely a priority. And the next support based on volume levels is $95,665.
How can the asset grow in such a setup both next week and in the coming weeks overall? It can't, unless there is a 'god candle' within a bull run. In its absence, this combo is a sure sign for a correction or range. Moreover, in such a wide range that its downward movement may scare many. The trigger for the end of growth for us in this movement is the price transitioning into a stable downtrend on the two-hour timeframe. And the question of this signal may be resolved in the coming hours.
What then makes one wait for the probability to rewrite the high and take $100,000 before the correction/range? Only the level-'magnet' in resuming futures trading on #BTC at the Chicago Mercantile Exchange (CME). This, we remind you, is the level of $99,815. Close to the target.
However, the imminent rise of the BTC price volatility Index (we expect a reversal upward either today or on November 25-26) can occur both within the context of growth and within the context of price correction. Here, the hint is only about a possible large price movement.