(THE END IS NEAR ) If you think now is a good time to buy bitcoin at a good price since it's dropped, you're in deep trouble. This may just be a manipulation designed to trap you into taking profits by the big players on your liquidations. Yes, bitcoin may rise some more, up to $67,300, but if it does it could be the bloodiest bull trap ever, making the previous drops and liquidations seem like an easy walk in the park.
Now there is a desperate struggle for strong levels:
- volume level of $64,120,
- EMA 200 of the 4H TF (price is consolidation under $63,984 for the 8 candle of this TF),
- EMA 50 of the daily TF ($63,899, the most important of the three mentioned resistances).
Bitcoin is locally overbought and now everything really depends on the breakdown or non-breakdown of these three resistances. And another VERY IMPORTANT point: trading in BTC futures on the CME resumes overnight. On Friday they ended at $63,365. This is a "magnet" price for the start of trading. Be careful in the new working week, do not give in to provocations and take care of your balls, the storm is coming...