BTC rate returned below $100,000 today. Seller:
- broke through the volume and mirror level of $99,481,
- broke through the next volume level of $98,433,
- tested EMA 50 4-hour TF.
It is interesting that such an impulse decline is taking place on the still falling BTC Price Volatility Index, the reversal of which we expected on January 1-3.
But the Index continues to fall, increasing the importance of reversal signals when they appear.
Returning to the price of#BTC- the importance of the $99,481 level was written about yesterday:
"In case of correction and breakout of $101,376 - now the most important immediate support should be the volume and mirror level of $99,481. Next - the range of $97,553-98,433"
Everything is now again resting on the volume range of $97,553-$98,433. It is decisive again. A rebound from it and a return above $99,481 will be considered a signal of the end of today's correction.
By the way, on the hourly TF, users of our indicator received a signal about a stable downtrend on the hourly TF 3.5 hours ago. Since then, all three targets for it have been worked out and now a Strong signal of a potential low is being formed on this TF. The last time such a signal was on this TF was on December 26, providing a rebound. But after that, the price went lower. Let's see how it will be this time.
On the 2-hour TF, according to our indicator, the price is still in a stable uptrend, but there is a risk of a break.
There is no risk for the 4-hour TF yet. But the signals of a potential high are working out clearly there today. It is not worth ignoring them for BTC on this TF.
Returning to the forecast - in general, as long as the price is above $97,553-98,433, the bulls have nothing to worry about. Let us recall that at night the price of#BTCmoved into a stable uptrend on the daily TF, which is an extremely bullish signal. The risk of cancellation of this signal is not earlier than the daily close below $94,960. Everything else is scares for bulls and wishes for bears.
