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An hour before the daily candle closes for BTC, the first signs of buyer activity appeared. But until the price recovers above the volume range of $97,553-$98,433, there can be no talk of a reversal. Only a bounce.
Important regarding buyer activity:
First, there appeared an additional mark of a potential low on the hourly time frame, which was awaited as the first important sign of a buyer's return. The reversal candlestick structure has been completed.
Secondly, three potential low candles have already formed on the 2-hour time frame. All of them are a strong signal, which is not often seen on this time frame. The last time was on August 27-28, confirming the uniqueness of today's movements.
Thirdly, in the last two hours, there has been a breakout of the descending trend line, which became resistance during today's dump.
Fourthly, there is a bounce from the 200 EMA on the 4-hour time frame (but the candle is not yet closed).
At the same time, so far on the 2-hour time frame, there is a retest of the drop below the 200 EMA, plus we need to wait for the closing of the 4-hour and 12-hour candles relative to the 50 and 200 EMAs on these time frames.
And the key point has already been stated at the beginning - there will be no reversal until the price returns above the volume range of $97,553-$98,433. The way it was broken today, despite the volumes traded there on January 3-6 (and on other days, this is the most voluminous range for November-December) indicates the strength of sellers at the moment. If during the execution of the reversal potential on the hourly and 2-hour time frames, the price does not recover above $97,553-$98,433, or even cannot enter this range - there will be a significant reason to wait for a new low in this correction. And a move to the very range of $94,000-$95,000.