I have previously shared numerous ideas explaining my perspective on the BTC daily timeframe, making it evident why I adopted a bearish stance on BTC.
Today, as BTC reached $25,400, a crucial question arises: what is the appropriate course of action and what lies ahead in terms of price movements? To answer this, let's pick up where I left off in my last analysis. I can assure my fellow traders that fixed range and anchored volume profiles are potent tools for those who possess the knowledge to leverage them effectively.
As illustrated in the chart above, I have established three fixed range volume profiles and one anchored profile, enabling me to construct a comprehensive roadmap and trading strategy for the near future.
Bearish Scenario:
In my previous prediction, I anticipated BTC to reach a target of $26,400, which materialized today. I foresee BTC retracing to the broken uptrend line around $28,000 before resuming its downward trajectory towards $23,000. There's even a possibility of further decline to the substantial volume zone of $16,500 to $17,500. You can validate this using the anchored volume profile tool by modifying the start dates to November 10th and January 10th. If such a scenario unfolds, I anticipate the formation of a double bottom pattern with potential implications for the long term.
Bullish Scenario:
BTC initiated an uptrend characterized by three cycles and four distinct price zones: $16,500, $23,000, $28,000, and $30,000. These zones exhibit a specific price spacing as follows:
Difference between $23,000 and $16,500: $6,500
Difference between $28,000 and $23,000: $5,000 (5/6.5 ≈ 77%)
Difference between $30,000 and $28,000: $2,000 (2/5 ≈ 40%)
Have you noticed the pattern? It resembles a sine wave, and it appears that we've reached its peak. If BTC were to surge once more to $32,000, it would signal a potential selling point (resembling a triple top pattern). However, a strong weekly bar breaking through the $32,000 mark would prompt me to reconsider my analysis.
Today, as BTC reached $25,400, a crucial question arises: what is the appropriate course of action and what lies ahead in terms of price movements? To answer this, let's pick up where I left off in my last analysis. I can assure my fellow traders that fixed range and anchored volume profiles are potent tools for those who possess the knowledge to leverage them effectively.
As illustrated in the chart above, I have established three fixed range volume profiles and one anchored profile, enabling me to construct a comprehensive roadmap and trading strategy for the near future.
Bearish Scenario:
In my previous prediction, I anticipated BTC to reach a target of $26,400, which materialized today. I foresee BTC retracing to the broken uptrend line around $28,000 before resuming its downward trajectory towards $23,000. There's even a possibility of further decline to the substantial volume zone of $16,500 to $17,500. You can validate this using the anchored volume profile tool by modifying the start dates to November 10th and January 10th. If such a scenario unfolds, I anticipate the formation of a double bottom pattern with potential implications for the long term.
Bullish Scenario:
BTC initiated an uptrend characterized by three cycles and four distinct price zones: $16,500, $23,000, $28,000, and $30,000. These zones exhibit a specific price spacing as follows:
Difference between $23,000 and $16,500: $6,500
Difference between $28,000 and $23,000: $5,000 (5/6.5 ≈ 77%)
Difference between $30,000 and $28,000: $2,000 (2/5 ≈ 40%)
Have you noticed the pattern? It resembles a sine wave, and it appears that we've reached its peak. If BTC were to surge once more to $32,000, it would signal a potential selling point (resembling a triple top pattern). However, a strong weekly bar breaking through the $32,000 mark would prompt me to reconsider my analysis.
