BITCOIN → What's next? 50K or 75-80K? Is bitcoin still strong?

9 Mac 2024

BTCUSD reaches ATH a bit faster than everyone expected. The correction reaches 14% after which the market actively redeems all the fall and tests the resistance again. Growing further? What is happening?



It is not excluded that a fall is possible, because at least the normal reaction to global zones is a correction of 20% or more. I am not indicating 100% probability of my words, but I am leaning on the situation at the moment.

After a false breakdown of 69K is formed, the market forms a correction. Huge sell-offs from the psychological level of 69K are forming. Even Bitcoin-kit of Satoshi's time sold 1000 BTC mined 14 years ago for $68 million. But, the next day the market starts to buy back the strong fall. This leads the price to another retest of resistance. The flagship continues to show a huge interest from people, which gives us quite important preconditions for further waiting.



I won't go into some old and deep stuff. Let's get straight to the interesting stuff:

An interesting setup is forming on D1. False breakout without any reaction. Consolidation. Price pushing to resistance. It seems to be nothing special, but this situation indicates the presence of a strong buyer or the absence of a seller, which is more likely. Friday's closing near the level tells us that the buyer is not finished yet and can continue his actions (buying the asset)

Local critical zones - support areas are formed within the consolidation. There are several scenarios regarding H1-H4. The resistance 68575 - 69000 plays an important role for us.


Scenario 1. Orange:
If price continues to trade within 69K - 65759, followed by a pre-breakout consolidation formation, price squeeze to 69K, slow approach on low volatility, this will entrain the chances of resistance breakout followed by price rise to 75K-80K.


Scenario 2. Red-Green.
The 69K - 66265K range will not be enough. Price may break the support structure: 66264 - 65759 after which a deep correction phase will start, heading towards 64K, 62K, 59K. But, a false breakdown of one of the areas with subsequent consolidation will form a potential that can restore the price to 69K. After that we expect the realization of the first scenario. Squeezing to 69K with subsequent breakout and growth to 75K-80K.

The bullish structure will break when the support at 60365 is broken, which will activate the liquidation phase and start the correction to farther support lines

BTCUSD BTC1! TOTAL

Regards R. Linda!

9 Mac 2024

Dagangan aktif

So far so good.
The retest of 68850 - 68577 continues

9 Mac 2024

Dagangan aktif

10 Mac 2024

Dagangan aktif

Attempted breakthrough. The momentum gives us 1.76%, which is very good for intraday trading.

A price fixing above 69K will give the market the potential for further upside :)

10 Mac 2024

Dagangan aktif

70K ;)

10 Mac 2024

Nota

The coin is trading at its highs, in the zone above 69K. This is quite an interesting situation. The coin is showing its strength

11 Mac 2024

Dagangan aktif

False breakdown and the beginning of correction. Watch the market reaction.

12 Mac 2024

Dagangan aktif

72910

12 Mac 2024

Dagangan aktif

Quite an interesting situation. Consolidation in a clear field.
Bitcoin can purposefully move to 75K

12 Mac 2024

Dagangan aktif

Support retest and liquidation.
price may continue its growth :)

13 Mac 2024

Dagangan aktif

The coin is starting to recover from the correction