BTC is likely preparing today to test the trend support from December 13. Right now it is at $101,545, but the longer the test is delayed, the higher the test level will be.
From the overnight review, it became clear, at least, that the rise is not a bull trap. But a healthy rise within the transition between volume levels:
1. $98,433-$101,903 from December 6 to 9,
2. $94,199-$98,433 from December 9 to 11, a movement within the dump,
3. $99,481-$102,641 from December 11 to 15,
4. from $102,641, here the upper boundary is not yet determined and it is far from certain that the price will stay in the range for a long time.
If you look at the screenshot - the price clearly reacts to the levels. All that BTC needs right now to continue rising to new ATH is to close the body of a four-hour candle above $102,641 during the decline.
The overnight rise broke the signals of a potential high on the 30-minute, hourly, 2-hour, and 12-hour time frames. But today’s signals on the 4-hour time frame may play out - the first candle with a signal is supported by a 'bearish' (upper shadow). Additionally, corrective signals are coming from the BTC futures chart on CME, from the 2-hour and 4-hour time frames. And there, let us remind you, there is a gap from the weekend of $102,285-$103,665.
On the 15-minute time frame according to P73 Trend & Target Dynamics for #BTC, there is another stable downtrend. But it is visible from history how the last two played out. Only as opportunities for additional purchases (and there wasn't even a basic target achieved).
Therefore, for now, on the 30-minute time frame, the price of BTC is in a stable uptrend - there is no point in waiting for the start of corrective signals on the 4-hour time frame.
