Bitcoin (BTC) headed to 44k followed by 32k then back up again
Fair value gap suggest we have some strong liquidity magnets up above us at the 44k area.
I see no reason why those cannot be easily filled given the momentum we have.
Following that, I anticipate a violent shakeout back down to the 50% retracement of the the weekly fvg (cyan) at 32k before resuming course for new all time highs by or on May 2024.
One interesting thing to note is that there have been 2 major weekly FVGs since the pico bottom on Nov 2022 and they have both held extremely well and gave people a very high probability setup to enter long.
We will get another entry on the bull FVGs coming up.
I see no reason why those cannot be easily filled given the momentum we have.
Following that, I anticipate a violent shakeout back down to the 50% retracement of the the weekly fvg (cyan) at 32k before resuming course for new all time highs by or on May 2024.
One interesting thing to note is that there have been 2 major weekly FVGs since the pico bottom on Nov 2022 and they have both held extremely well and gave people a very high probability setup to enter long.
We will get another entry on the bull FVGs coming up.