The BTC rate has returned to a stable uptrend on the hourly TF. Not all of Thursday's drawdown has been bought out yet, but the upward trend has intensified. It goes against expectations, we were expecting at least the second target of $86,287 to be worked out. And the optimal approach would be $85,000. But the price was held by trend support from November 6.
It was the transition to a downtrend on this TF that we were expecting as a signal for a range or even a correction after all the rapid growth since November 6. But buyers were able to regain the initiative and if the issue of the range has not yet been resolved, then we can forget about the correction again.
Basic targets in case of continued growth:
- 90 551$,
- 91 597$,
- $92,643 (and next to it an additional target from the weekly TF $92,687).
Additional goals:
- with 12-hour TF: 93 013$,
- from monthly TF $95,157,
- with a two-hour TF - 95 662$.
Let us recall that in terms of volume levels, it is important to break through $90,661 to start working out most of these targets.
Taking into account the picture on the daily and weekly TF, which has been written about many times in recent days (about signals of a potential high), the probability of a sideways movement is growing. And so far a fairly wide range of $85,000-93,000 is emerging. Again, we will have to look at the 15-minute and 30-minute TF in search of clues. And the hourly TF, as an important argument for correcting the entire growth since November 6, is losing its importance. If the price goes into a range, then the older two-hour TF will have a greater significance for us for the signal of correction of the entire growth since November 6.
The weekend is coming, a period without institutional players in the market and with opportunities to manipulate the price more successfully. We are waiting for the close of trading in BTC futures on the Chicago Mercantile Exchange to determine the “magnet” level for Monday.
