$BTC unable to sustain above $101K
Looking for strength & demand from here to lift the market higher / confirm $98K area as support. If 98K broken then weakness will continue.
Be cautious. Bitcoin might backfill half of the giant daily candle wick to $92,000 printed during a liquidation cascade on 05th Dec.
There was a 96% probability that the wick would be filled, because a $6k long wick in just 4hr time frame is huge and it's a major imbalance.
The orange line represents the same 50% of the 1D wick fill that I've just mentioned.
If price goes back to that level (50%) is very likely that it goes to the 100% next. If so, usually we see sweep of the highs too.
Confirming that failed breakout would signal a drop to $94K or even 92K. The sooner we get retrace this imbalance, the sooner we can move on with more confidence. #2024withBinance
