For the first time since Tuesday, December 17, BTC has returned to a stable uptrend on the 30-minute timeframe. A good sign for bulls.
Although it is more important to see a return to a stable uptrend on the hourly timeframe - there are currently no reasons for new dumps on the horizon. At least those that can be predicted. Regarding the Fed, it was mentioned that a pause in rate cuts would be negative for the markets.
But, of course, such a significant decrease was not expected. The same S&P 500 gave more than -3.5% yesterday with one four-hour candle.
Returning to #BTC - the basic growth targets based on the signal:
- $102,878.
- $103,484.
Additional levels, while maintaining the trend, lie in the range from $107,385 to $115,522.
Strong signal of potential lows on the hourly timeframe +, as we expected, reversal candles on the four-hour timeframe (also with a bullish shadow from below) - are working out well so far. By the way, on the four-hour timeframe, we reached the third correction target of $98,997 yesterday, and the low of the decline so far is $98,802.
In the rise, it would be very bullish to recover above the trend line from December 13, below which it fell yesterday during the dump. This would be a V-shaped reversal scenario.
By volume levels and EMA - the price approaches the volume level of $102,757 and the 50 EMA of the four-hour timeframe. This is also a very important resistance pool.
By the way, another important point - during yesterday's market dump, the gap of $102,285-$103,665 was closed on the BTC futures chart on the Chicago Mercantile Exchange. It appeared from last weekend.
