BEWARE OF VOLATILITY!
Hi all!
Well, as I assumed in the last review, we can leave the downward local channel at 4H. For now we are watching the tilt retest after the breakdown. In the near future, I do not exclude the option of moving to the middle line of the descending channel in the area of $62K, where the moving average 200DMA 4H also acts as support, from where I expect a reaction from buyers.
If this line is broken, the next stop will be at the support level of the channel, in the area of $59K, where, in principle, the movement was initially expected as the target of its short position from $72K.
This concerns local movement in the near future. More generally, I have already said that I expect a correction at least to the $52K-56K zone. And it would be even better to go under it up to $48K.
I think that this year we will definitely reach these values, but the question is when exactly (before the halving or after). There is a chance that before the halving, the cue ball will have time to rewrite its high again, to approximately $76K, as it was in 2021 by 3%. But the cue ball has its own plans for this, or rather the WHALES.
Ether very clearly worked out the previous scenario, where I expected a reaction from buyers in the region of $3K
Locally, the price may soon go back to the area of $3,350, this is approximately the middle of the daily range from March 20, and from these values I expect continued growth in the context of a decrease in the dominance of the cue ball and an increase in its price.
Also, do not forget that today at 16.00 Moscow time there will be a speech by the head of the Fed, Mr. Powell, which may cause sharp movements in the market. The rest of the events for today on the economic calendar are less significant and are unlikely to affect the markets.
