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TT | Top Traders 🏆 analytics 2 minutes reading from Bitcoin

Price Analysis: $16,832 and Low Volatility

📈 BTC closed the week at 16,832. BTC week toptraders

Minimum volatility


▫️The price continues to move in a bearish trend ▫️ Tested the resistance zone, which just recently acted as a support zone ▫️ Stuck in a 50% sidewall with record low volatility.


▫️ Re-approaching the global downtrend line on RSI (from January 2021)

▫️ The nearest strong support zone is in the 12,000-14,000 range. ▫️Trend liquidity is formed to buy up to the level of 25,000

TradingView Chart


▫️ In the entire history of the BTC chart, since 2013, each trend ended with a correction of 82-86%

▫️ The level of breaking the downtrend shifted from 48k to 25k (and if the low of 15,5kis updated, it will move to the 18,5k level)


❔The marked blue area is the consolidation boundaries [1D TF], formed after the momentum from early November.

The last candle took the liquidity off the upper boundary of the range. At a renewal of the low it will be interesting to consider a correction.


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. 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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