DT has formed on BTC, here are some thoughts on the levels lower...
52k has an H4 VPOC.
48,600 - seems like a given to retest this level as it's a weekly level and the last high wick.
44,500-ish - top of the D1 volume shelf and R/S based on wick from 12/5
42k - weekly level, 43k has an H4 VPOC too.
38k-ish - all the way back to the TL from 16k. At some point we may revisit this line. Whether or not it happens on this pullback remains to be seen.
WATCH OUT! - I do not like the looks of the wave 4-5 and it feels under developed to me. Therefore, I expect more printing to happen in the 48-52k range to make a more defined top pattern and shake off futures positions in both directions.
52k has an H4 VPOC.
48,600 - seems like a given to retest this level as it's a weekly level and the last high wick.
44,500-ish - top of the D1 volume shelf and R/S based on wick from 12/5
42k - weekly level, 43k has an H4 VPOC too.
38k-ish - all the way back to the TL from 16k. At some point we may revisit this line. Whether or not it happens on this pullback remains to be seen.
WATCH OUT! - I do not like the looks of the wave 4-5 and it feels under developed to me. Therefore, I expect more printing to happen in the 48-52k range to make a more defined top pattern and shake off futures positions in both directions.