BTC-12h. Sellers are preparing for the breakdown of 32000-33000.

18 Jan 2021

The weekly candle in the BTC market closed at $35828, forming the "hanging man" pattern, or the Hang Man, which we wrote about in our Bitcoin weekend digest. Sellers managed to keep the key level of $39,000 and the local level of $36,500.

Trading volumes were the highest during the entire growth wave since September 2020. The appearance of a weekly candle, and even with such volumes, makes it clear to us that the balance of power is changing in the market. Sellers have found a support from which they can begin correction.


If we look at the 12 hour timeframe, we see that buyers have not managed to get the white trend line back under their control.
Buyers are trying to buy up the sellers' offer and this is noticeable by the pins on the candles, starting from 15 January.

However, today an attempt to start a new growth wave is failing due to low volumes. This fact can only mean that in order to continue to grow, buyers need a more interesting price for BTC. Therefore, the probability of the continuation of the fall with the target of $32,000-33000 is very high.

The 4 hour timeframe shows that there is another local trend line that forms a triangle. By keeping it, buyers will be able to count on a new attempt to break through $39,000.
We will be closely monitoring the volumes at the mark of $32,000.


The BTC dominance declined and we all felt it as we saw the coins start shooting. But a decrease in BTC dominance below 65% will entail its sale.


Therefore, this week has a good chance of continuation of the correction in the BTC market. Let's see if sellers are ready)