The growth of the BTC rate still remains a priority, but for this, the bulls need to break the correction signal. Signals of a potential high on the daily TF. Today is the third of three, the last one. And all three are a strong signal. Expressed overbought by the indicator + reversal candle structure. Then either a work-out or a break (and then we will wait for an additional mark to the correction).
The probability of a break is not as small as it seems to the bears. Yesterday's decline to $87,970 made the bulls nervous. But according to our indicator, there was no transition to a downtrend on the hourly TF.
This means there is no reversal downwards. This is confirmed by today so far.
Also, after the correction, the price recovered above the level of $90,500, where the ascending trend from the highs of the previous cycle is currently taking place.
At the same time, let us recall that on the weekly TF there is already a second candle of potential high.
And after the growth of the last days, the second mark is also a strong signal. Overbought and on the weekly TF. The last time there was a strong signal of a potential high during the week was in March and April of this year. Everyone knows how it all ended. An exhausting range until November. BUT now there is a bull run. Therefore, either the range will be much shorter (a couple of weeks, not months), or it can be broken by a "God candle".
That is, even if the signals are broken on the daily basis, there is reason, as has already been written, to wait for at least a range from November 17 or 24.
But while the asset does not change the trend on the hour - the price can be dragged even up to $ 100,000. There is enough time before the start of the correction/range signals during the week. It is stupid to argue with the uptrend, according to the indicator it is stable and confident on the hourly TF since November 6, and on the daily TF since September 18 (!)
Let's add a picture of new volume levels for #BTC, important resistances and supports:
- $92,389 (resistance for now, new impulse growth is possible if broken through),
- 90 661$,
- 89 365$,
- $87,684 (the same “neck line” in the “Cup with Handle”, an important mirror level in recent days),
- 84 737$,
- 82 145$.