TODAY IS friday and btc is now moving up bringin all the moon boys back to life
btc has now hit its open bear target for profit booking/ possible full closure at 56887
btc also posted a 6hr bull jefe confirming bears closing out positions
outside of that no other meaningful price action is on the charts at this time
if we do an correlative analysis we can not that crypto total markett cap has printed a 1w bear jefe giving a sign of market crash incoming but also printing a bull jefe and key level at 2.616t if the market cap cant sustain above there then bye bye moon boys . btc makes up half of the market cap
on a broader outlook u can see a market shift taking place this week this does not mean a market reversal. this just means btc is showing signs of shifting ideas or targets on a time model/ target
with that being said btc key area it needs to take and push pass is 60322 the bear open balance target "they will hit for profit booking
if this target gets hit and thers no signs of immediate closure of positions then this will indeed be a bear trap with the next target coming to 54952 then 5428 and lastly 53715
also note that price is now moving up on friday which is a sign of time divergence bc most positions are being closed. this leading to a possible rally of the week only to open bearish trapping all the buttom buyers by allowing enough hope in the market to come in give enough time to past for liquidty to be built up and fomo buyers believing price will sky rocket going into next week.
lastly there will be an extreme amount of liquidity at 60322 for 1 this is where bears opened their initial positoin and 2 retail will place buy stops waiting for a break out and you will also have s/r traders placing sell limits. allowing "them" to enter take all positions out use their liquidity to get in easy and then push price down further. all in all the sign will be given by sunday 8:00 pm as to where we are headed for now a bounce is do if btc cant even get to 60k then the market shift will indeed be a market reversal
btc has now hit its open bear target for profit booking/ possible full closure at 56887
btc also posted a 6hr bull jefe confirming bears closing out positions
outside of that no other meaningful price action is on the charts at this time
if we do an correlative analysis we can not that crypto total markett cap has printed a 1w bear jefe giving a sign of market crash incoming but also printing a bull jefe and key level at 2.616t if the market cap cant sustain above there then bye bye moon boys . btc makes up half of the market cap
on a broader outlook u can see a market shift taking place this week this does not mean a market reversal. this just means btc is showing signs of shifting ideas or targets on a time model/ target
with that being said btc key area it needs to take and push pass is 60322 the bear open balance target "they will hit for profit booking
if this target gets hit and thers no signs of immediate closure of positions then this will indeed be a bear trap with the next target coming to 54952 then 5428 and lastly 53715
also note that price is now moving up on friday which is a sign of time divergence bc most positions are being closed. this leading to a possible rally of the week only to open bearish trapping all the buttom buyers by allowing enough hope in the market to come in give enough time to past for liquidty to be built up and fomo buyers believing price will sky rocket going into next week.
lastly there will be an extreme amount of liquidity at 60322 for 1 this is where bears opened their initial positoin and 2 retail will place buy stops waiting for a break out and you will also have s/r traders placing sell limits. allowing "them" to enter take all positions out use their liquidity to get in easy and then push price down further. all in all the sign will be given by sunday 8:00 pm as to where we are headed for now a bounce is do if btc cant even get to 60k then the market shift will indeed be a market reversal
Comment:
as expected btc hit 54k now the 15 min chart is showing no signs of profit booking meaning more downside is on the way alos the short idea that was on the chart played perfectly i will make another post soon