TT | Top Traders 🏆 analytics
TT | Top Traders 🏆 analytics 2 minutes reading from Bitcoin

Impulsively Stable: $22,707 For Second Largest Market

📈 BTC closed the week at 22,707. BTC week toptraders

A high liquidity area

Two bull weeks, what's next?

▫️ Impulsively broke through the global downward RSI [from Jan 2021]

▫️ RSI: Approaching the uptrend line of the last bullish cycle from March 2020 (red line)

1/6

2/6

▫️ Impulsively broke through the first liquidity zone to buy [21,5k]

▫️Removed liquidity to buy at 22,8k

▫️The 18k-20k resistance zone acts as support zone

▫️ Almost completely removed the trend liquidity to buy. The remaining level is 25k

TradingView Chart

3/6

▫️ The weekly order block acts as a resistance zone at the moment, from which the downtrend movement can start.

▫️The price turned in the air (not good) ▫️A large pool of liquidity was formed in the range of 15,500 - 16,500 to sell

4/6

▫️The nearest strong support zone is in the range of 12,000 - 14,000

▫️In the history of the BTC chart, every trend since 2013 has ended with a correction of 82-86% (In this situation, the range of 10,000 - 13,000 is such a zone)

5/6

❕ After the removal of the lower border of the sidewall (blue area) the correction of the downtrend movement began. The break of the structure is at the level of 25,000

Conclusions: Even if the bearish trend is coming to the end, it is risky to enter the market.

6/6

The trend reversal has yet to be confirmed. (October 2019 - February 2020 is proof of that)

A more detailed review will come with 3D analytics

update.

TT | Top Traders 🏆 ENG analytics on Twitter
This post is based on this twitter thread.

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