The market seems to be in a retracement from all that bullish pressure. Chances are it will retrace to the 50% on the Fibo. Before continuing it bullish price action. The analysis is of price action and volume. ob = order block ib = imbalance 4h sb = 4 hour structure break.
Key points have been marked up. prices are going to want to come down to take liquidity and continue to the upside. However, this is if conditions are met and if we get the buy signals we are looking for. Overall trend is still bullish.
In as much as the markup to this movement isn’t the strongest…it’s the most bullish BTC has been in a while and I mean strong movement to the upside not just bullish for technicals sake… although now it’s at the 38-39k resistance level…it is creating higher lows on the lower TF indicating a strong bullish pattern growing. There is still so much FUD in the market...
As indicated on the chart. There is a rising wedge being formed on the daily. Confirmation to short would be if the price action breaks the bottom channel of the wedge. BTC likely would short to the former resistance zone turned support.
