Paul Cheyney IA7q(@Square-Creator-13280c5072ec)'s insights

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Ualifi Araújo

Bullish

$BTC Analysis 12/11/2024

#BTC, Bitcoin once again shows that the majority is always wrong, lol. Yesterday, most people were calling for CHAOS and very low numbers, but BTC is recovering again and showing that the BULLS are in charge.

We had a strong and decisive recovery here. Note that there weren't many Short liquidations here precisely because the price was slowly rising until it recovered the blue band on the chart. Of course, the initial slow action was enough for the bears who were short in the $98,400 region to get out before getting stuck. Of course, as soon as those big orders were closed, the price passed without any difficulties.

We had IPC data within the projection and the market likes that, so we had a good trigger to rise that we were already expecting, and it was mentioned in yesterday's analysis.

I would like to see a small pullback from here to RETEST that broken region in the blue band before we continue to rise, or a viable option would also be for us to break $102K and form support above $101K to continue towards $105k. Why is that? I wouldn't like to go up to $105K and then have to retest that blue region.

Either way, I expect us to make a new ATH at $105k before Christmas.

The RSI has been very useful in these uncertain times, so I'm still keeping an eye on it, and it seems to me that a retest lower is the best for us to bounce again. Of course, this will give you a new opportunity to enter at good #altcoin even if a little late and at slightly more expensive prices, but after all, that's the price you pay for waiting for the perfect moment to enter.

The BIG BULLS IN SIGHT are leading here and this explains why the BIG BEARS are already starting to abandon the $105K lol.

$105K soon!

* If you have any questions, don't hesitate, go to my INSTA (it's in the fixed image of my profile here), call me and ask your question.

Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.