📈 BTC closed the week at 16,329 (-22%) level. BTC week toptraders
Fears were not in vain.
The impulse did occur, but still in the direction of the trend. (Fans of catching the bottoms will surely get the second one as a present).
▫️ Fixed below the support zone of 18,000-20,000 (now this's the resistance zone)
▫️ The nearest strong support zone is in the 12,000-14,000 range
Compared to previous consolidations, the movement occurred without explicit removal of SLs from previous local highs.
So local pools of liquidity for buying were formed, which will be used for further upward movement in the future
▫️ In the entire history of the BTC chart, since 2013, each trend ended with a correction of 82-86% (In this situation such zone is the range of 10k-13k)
▫️ The level of breaking the downtrend shifted from 48K to 25K
Even if this momentum completes the bearish trend, the likelihood of squeezing the remaining juices out of the market before a major move is quite high. There is no rush
We should again wait for the base to be formed for the reversal. And preferably it should be in a strong support zone and not in the air.
A more detailed review will come with 3D analytics update.
this twitter thread.