Just from observing this chart, the situation appears unpromising, and here's why:
Hello,
As we've witnessed in recent days, BTC has encountered some difficulties. While many people remain optimistic about the arrival of a new bull cycle, price movements have been hindered by regulations.
BTC will experience a price surge; it's certain, but it has yet to attract sufficient holders.
Holders tend to purchase at a discounted rate, as exemplified by bullish or bearish order blocks.
In the 4H timeframe, you can identify the order block within the range of 26300-26700. I believe that before we can witness prices surpassing 40K, we must focus on obtaining liquidity within this specific block.
"A tree cannot ascend to heaven if its roots don't delve into hell."
Hello,
As we've witnessed in recent days, BTC has encountered some difficulties. While many people remain optimistic about the arrival of a new bull cycle, price movements have been hindered by regulations.
BTC will experience a price surge; it's certain, but it has yet to attract sufficient holders.
Holders tend to purchase at a discounted rate, as exemplified by bullish or bearish order blocks.
In the 4H timeframe, you can identify the order block within the range of 26300-26700. I believe that before we can witness prices surpassing 40K, we must focus on obtaining liquidity within this specific block.
"A tree cannot ascend to heaven if its roots don't delve into hell."
Comment:
some say its forming triangular shapes before rally , i mean like ... what ??!
what u guys think of this ?
what u guys think of this ?
Comment:
i assume we will first retrace back to 28900 level , then go for liquidity bellow 27K
Trade closed: target reached:
although i predicted this , but yet is not a good time to buy cause it was too steep , not sure if enough buyers will buy this price
On-chain analysis reveals that spot trading is insignificant compared to derivatives, leading to scalping without establishing a noticeable trend.
The daily trading volume is low, and despite my earlier optimism for an early bull market this year, it seems that reaching 100K BTC will be delayed until late 2024.
In conclusion, I anticipate a downward movement towards liquidity around 26-27K.