Do not be afraid, do not be greedy, be cautious.
BTC has had a significant drop causing panic as many altcoins have also decreased.

Currently, BTC is still in an upward trend.
When the price returned to test the HMH line and there was strong buying pressure from below, it created an unsuccessful breakout. That is the current situation.

But looking back at the recent past when the price reached an important level of 107k-108k (fibo 0.5) and also the Fib 0.618 of MPF, the price reversed. The price even returned to M-ML for testing but was still pushed down with very strong selling pressure.

So with the larger timeframe W/D, BTC is in an upward trend.
With a smaller timeframe like H4, the price has broken the MPF so it will be hard to say that the price will continue to rise in the short term.
Points to consider here:
1. If the price returns to test the large PF (D timeframe) and breaks the HMH to enter the PF ath, there is a high chance the price will continue to drop (<97k).

2. If the price continues to rise and breaks the M-LMH line, there will be an opportunity for the price to increase and altcoins to be safe. (>102k)

3. The price does not break up or down but will sideway within a small range of 97-101k.

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Conclusion: at this moment, I still prioritize that the price will increase, I placed a long order for my friend early this morning at 97k when the candle signaled an unsuccessful breakout. The target is 102k.

The advice is not to enter positions at this time; if anyone hasn't long/shorted, they shouldn't enter now. When exiting altcoin positions, wait to see how the price reacts when it reaches important resistance/support levels. This is the time to sit still and do other things.
#bitcoin #ptkt

[Updated at 13:30 on 04/12/2024]
BTC
The price is being held steadily above the Support line.
Additionally, the price has touched Resistance multiple times within a short period (4 times/8 days) => the possibility of breaking through Resistance may occur => This is a common price behavior in terms of Technical Analysis.
To continue the upward momentum, BTC needs to create a High-Low pattern on the 4-hour chart to have a reasonable bounce.
Target price: 110000
#BTC☀ #write2win #ptkt #chart $BTC

#BTC trong nhịp tăng này dễ lên tiếp vùng 46k và chạm vào vùng phân phối đỉnh trước khi tin xét duyệt ETF được công bố

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Bitcoin reverses in a new direction

Bitcoin increased yesterday, creating bar D1 that increased in a wide range and closed close to the peak, showing good buying pressure. The increasing bar D1 yesterday was approximately as large as the previous decreasing bar D1. Combining these 2 D1 bars is a Double Bottom candlestick pattern - Tweezer Bottom - a candlestick pattern reversing from bearish to bullish.

The confluence support zone combines three technical factors: (1) PPZ, (2) the round number 60,000, (3) the resulting upward sloping trend line, creating an effective price support for Bitcoin D1. This is something we analyzed earlier.

Bitcoin D1 is in a sideways state because it has not yet created a new high price peak. Bitcoin's D1 chart structure is bullish, as the highs and lows of the price gradually increase.

Bitcoin H4 just had a series of 05 continuously increasing H4 bars, showing very good buying pressure from below.
The behavior of the price breaking up from the upper boundary of the downward sloping price channel - bearish channel - is a factor supporting the possibility of price increase.

Today's Bitcoin H4 scenario is buying, including (1) buying if there is a breakout to the upside and then retesting afterwards, (2) buying if the price drops to retest the PPZ below, because a pattern may form. The inverted head and shoulders pattern - is a chart pattern that reverses from bearish to bullish.

#hotTrends $BTC #ptkt