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."
Nota
It's interesting how the market without new buyers for pumping remains around its BSL (29-30K). 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.
Nota
some say its forming triangular shapes before rally , i mean like ... what ??! what u guys think of this ?
Nota
i assume we will first retrace back to 28900 level , then go for liquidity bellow 27KDagangan ditutup: sasaran tercapai
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
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.