Lately Iโve been actively monitoring it too, and for obvious reasons it always needs to be done, considering it as one of the supporting metrics
Here the situation isnโt the clearest either. The nearest liquidity was picked upโsimply it was in the very first inefficiency. Then it gets more interesting: the next โfatโ shelf is located beyond local support at 80k. Here youโve got a round number, another inefficiency, and overall it all looks fairly reasonable within the context of the subsequent move upโso if we donโt see further re-accumulation (buying back), the closest and most reasonable target is exactly 79โ80k$!
P.S. yes, thereโs plenty of it there and even lower, but I wouldnโt look that far just yetโright now itโs a bit too early to just slam it and forget the โlongโ button, to put it mildly
The first target of the upward correction at 2400.00 has been achieved; the price is halfway to the second target at 3150.00. Given the current situation, Iโm considering a more optimistic scenario of reaching 3650.00โbut not immediately, rather through a local downward correction. Globally, the scenario remains unchanged. Iโm preparing an overview for you to bring clarity to the current situation.
The price is moving according to the expectations from the previous review; the scenario of forming a local downward correction is still relevant. The most likely target is 70000.00. I expect an entry into the marked area followed by a bounce.
๐ช I recorded a marketing breakdown and outlined my further expectations regarding the chart. I answered all your questions inside the videoโplease start reviewing it. ๐ฅ $BTC
$MUBARAK Logic of operation by the setup: what to do โ after a breakout of the sales zone, we target higher for a run on the high from a false breakout; then we move the stop to breakeven and try to pull out the maximum!
๐ #BTC โ I recorded a short video update for this chart. Inside, I outlined the picture and my further expectations that will be interesting to see for this assetโgo take a look and familiarize yourself. ๐ค
I expect an upward correction toward the 2.00 area.
In line with the scenario from the previous review, an upward correction has begun; the price has bounced off the 0.382 Fibonacci level. More likely, I expect a rise to the golden ratio at 2.20. In my view, this rise is a bullish trap; overall, the priority is a drop to 0.40.