What is the problem with the market now? Focus because I will explain the matter to you in a very simple way.
I can give you the talk about support and resistance, but it will not help you
Try to understand the whole idea so you know where the market is going.
We agree that the chart is something sacred, there is no room for error or coincidence, everything in it is programmed and drawn
The problem with Bitcoin now is the weekly frame and the 85k-87k point. Once this number is touched, the chart is completed, but
How can we not get to this point?
By consuming more time...the more time we consume in the movement, the more the averages converge and the drop to 85k-87k becomes not necessary.
Our problem now is that the structure of the weekly chart is not complete to start strongly, and therefore we have possibilities
First we go straight down to 85k and finish the whole story quickly ❌️
The second, and the closest so far, is the oscillation. We go down to near 92k, then we go back up strongly, then after a week we go down again, then another sideways movement, and so on until the bottom of 90k becomes consistent with the mathematical averages. Here we retest it one last time and take off...and the strong takeoff is supposed to happen in February with a high probability.
During this fluctuation, some currencies start to achieve their goals, especially currencies that did not rise by large percentages. This is used by the market maker to keep you inside the market all the time, because if the entire market continues to fall together, all the people will exit and wait for the end of the decline and buy.
But currencies often fear the movement of Bitcoin and take off.
I can give you the talk about support and resistance, but it will not help you