TT | Top Traders πŸ† analytics
TT | Top Traders πŸ† analytics 2 minutes reading from Bitcoin

Price Analysis: $18,000 In Sight?

πŸ“‰ BTC closed the week at 18,807 level. BTC week toptraders

🧡 0/5

1/5

βœ… Took off local liquidity to buy at 22,000 βœ… Withdrew the liquidity to sell at 18,500

πŸ”˜Total market capitalization falls below MA200

(historically moments like this have been very brief and coincided with the "bottom" of the market), We'll see what happens this time

2/5

βž• Tested the local RSI trendline and bounced from it βž• Reacted from the previous local low (18,500) βž• We are in the support zone formed by ATH 2017 βž• Growing volumes in the sideways area are forecasting a powerful move βž• Potential Double Bottom (DD)

βž– Bear trend

3/5

βž– Continuing to accumulate under the MA200 βž– Fear index is already at 25 (in June it was down to 6) βž– RSI is in the bearish zone βž– Still did not reach the main stop-loss zone (17,600) βž– Considering the macroeconomic situation, the probability of a decline is increasing

4/5

Conclusions: The drop from 40,000 occurred without correction to the resistance zone, and as long as we are above a significant support zone (ATH 2017) the LONG priority remains.

Might remove stops from the 17,600 level

5/5

βšͺ️ Fix above 24,000 βšͺ️ 25,000-27,000 is interest zone [liquidity withdrawal to buy from the upper range] βšͺ️ Testing of the global resistance zone [29,000-32,000]

More local parsing will come with 3D analytics update.

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This post is based on this twitter thread.

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