The BTC price continues to push towards $100,000, with the key timeframe remaining the 15-minute.
Since yesterday's post about the correction attempt, the price has accurately reached three of its basic targets and received a good reversal candle from the low of $95,600. It returned above the ascending trendline from November 5, tested it, and is now trying to break through as support. However, it has signals of a potential low.
The current new ATH is $99,420. It has already closely approached the psychological $100,000. Meanwhile, the price has already fulfilled the basic targets of the new stable uptrend on this timeframe. It also fulfilled an additional target of $99,135 from the hourly timeframe. The next block of additional targets is $99,866-$99,997 from the hourly and four-hour timeframes. If the price now fulfills the reversal signal on the 15-minute timeframe and recovers above the trendline from November 5, it will aim for there. The target above is only from the 12-hour timeframe, which is $101,161.
On the 30-minute timeframe, after yesterday's shift of a stable trend, we almost reached the second correction target, and the price also returned to a stable uptrend. The targets are on the screen, with the maximum being from the 12-hour timeframe and also $101,161.
The question of growth above is open.
On one hand:
- There is a wall of sell orders at $100,000.
- According to our indicator, growth above $101,161 would already be an anomaly, exceeding the expected volatility levels.
- On the weekly timeframe, the third reversal candle shows a strong signal of a potential high. Even within a bull run, this could mean at least a range for a couple of weeks.
On the other hand, breaking through $100,000 could trigger such a surge of euphoria that, why not expect anomalies. And ahead, let’s remind, are the weekends - a time without institutions in the market, when moving the price is easier.
But for now, we will continue to focus on the signals from our indicator. Yesterday and today it has been performing excellently on the 15-minute timeframe for both targets and corrections. As long as the price remains in a stable uptrend, we can expect growth towards $100,000 and higher.
The situation regarding volume levels: besides $97,511, the importance of which as resistance was mentioned yesterday, another volume level of $97,975 has appeared - also significant regarding volumes. And both are currently important local supports.
