After forming an inverse H&S pattern and printing a HIGHER LOW, it looks like #Bitcoin is starting to gain enough strength to sweep the liquidity above ($$$), targeting the major resistance zone.
However, I'd remain cautious if we hit that zone and show signs of weakness - especially with the market HYPED up around RATE CUTS and the US elections on the horizon.
The extreme market imbalance remains unfilled, and if Bitcoin cleans up liquidity on both sides while filling this gap, it could be the confirmation of a major bullish trend ahead.
- Reclaim of the BLUE box and confirm a deviation with the lower liquidity taken for a bullish continuation (honestly that's what I prefer to see)
- Reject the RED box which is acting as a fvg for bearish continuation, and the next stop should be the red dashed line.
I see a lot of FEAR and uncertainty on #BTC☀ right now, but also a lot of UNTAKEN higher liquidity, that should be taken.
Here is where you stay sidelined and wait for the clearer direction. On my honest opinion (but thats just my 2cents), we will see new ATH before the year ending.
- Reclaim of the BLUE box and confirm a deviation with the lower liquidity taken for a bullish continuation (honestly that's what I prefer to see)
- Reject the RED box which is acting as a fvg for bearish continuation, and the next stop should be the red dashed line.
I see a lot of FEAR and uncertainty on #BTC☀ right now, but also a lot of UNTAKEN higher liquidity, that should be taken.
Here is where you stay sidelined and wait for the clearer direction. On my honest opinion (but thats just my 2cents), we will see new ATH before the year ending.
If you are not familiarized to watching USDT dominance, it's inversely correlated to $BTC . Meaning when one goes UP, the other takes the inverse path.
As for now, USDT.D is rejecting a minor resistance after breaking the the recent DOWNTREND.
We can spot some LTF bearish RSI divergences, which is pointing for a relief rally on #BTC☀ till around $60k I would say.
If we break this resistance, it's fair to say that the HIGHER blue box is on the table, and could bring some more DOWNSIDE for $BTC
#RENDER is one of my personal picks for this #bullrun and I still think that we have some fuel to go for lower prices.
Ideally we are playing the "internal to external" liquidity move, where the "x" line liquidity should be taken, WEEKLY imbalance filled and bulls will resume the the action.
HTF market structure still very bullish, and lower prices are seen as buy opportunities.