The BTC rate has shown stronger growth than expected at $85,500-$86,000 since yesterday, with the current high already at $87,874.
Yesterday we discussed why we consider the range of $85,500-$86,000 important - it contains the 12-hour EMA 50 and the daily EMA 200. These have repeatedly thwarted the bulls' plans in recent months, including false breakouts. A settlement above both of these resistances is now extremely important for the continuation of the upward cycle we expect, despite the overall skepticism and the sentiment of 'the bears have arrived.'
The most crucial thing that can happen in the next hour is if the price transitions into a stable uptrend on the 12-hour timeframe according to our indicator. Then, despite all the signals for correction today (which will be discussed a bit later), we would no longer expect to go significantly below $84,000 before continuing to rise.
Stable uptrends on the 12-hour timeframe have occurred for #BTC three times since the beginning of October last year.
1. On October 14, after which the price peaked with an increase of +66% ❗️(yes, it's not a typo, this was an early signal for the Trump pump).
2. On January 6, but after that, the price peaked with only a +3.4% increase.
3. On January 15, after which the price peaked with an increase of +8.8%.
Therefore, we are waiting with VERY high interest for the closing of the current 12-hour candle.
Now for the signals for correction:
- On the lower 4-hour timeframe, the asset now has its second high marker on the 4-hour timeframe, similar to what was seen on March 20.
- On the 4-hour timeframe, USDT+USDC dominance has its third low marker on the 4-hour timeframe, approaching the important level of 7.17% and the 4-hour EMA 200. Similar to what was seen on March 21.
- The price has been rising since March 10 in a restructured 'Bearish Wedge.'
- On the BTC futures chart at the Chicago Mercantile Exchange, trading showed a gap over the weekend, $84,190-$85,120.
Today is a very important day. Right now is a very important time. If the price settles above the 12-hour EMA 50 and the daily EMA 200 in the coming days, it will indicate further growth above $90,000.