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TT | Top Traders πŸ† analytics 1 minutes reading from Bitcoin

Bitcoin Price Awaits Correction Zone After Bearish Trend

1/5

πŸ“‰ BTC closed the week at 16,280. BTC week toptraders

Uncertainty Zone The Price is frozen between the support (12,000-14,000) and resistance (18,000-20,000) zones.

▫️ Fixed below the support zone of 18,000-20,000 (now this's the resistance zone)

2/5

▫️ 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....

3/5

.... 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 10,000-13,000).

▫️ The level of breaking the downtrend shifted from 48k to 25k

4/5

Conclusions:

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.

5/5

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.

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This post is based on this twitter thread.

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