$BTC Analysis 09/27/2024
#BTC, the strength it is demonstrating is extraordinary, see that there was practically no pullback and it broke the red band with force, the next 4 hours will be crucial for the next price movement, since we are still very close to the red band and the BEARS can still attack the price in this region.
The movement of the BEARS in the red region was very predictable and as I always mentioned, it was likely that the vast majority of those large orders would withdraw before being hit, and that is what happened, making it easier for the price to continue rising. Basically, the large orders that were activated only delayed the rise.
Any consolidation or continuation of the rise at #Bitcoin will cause the #altcoins to continue rising to their resistances and break their bearish structures on larger time frames.
There is harmony between the PERP BUYERS and the SPOT BUYERS, this is very optimistic for a continuation of the rise here, of course we may see at some point the SPOT BEARS attacking the price as it remains above the red band, but it is still likely that any pullback to the red band will only be for some retest and we will now continue to the blue band on the chart, around $68K.
The BOLD SELLERS at $66K do not seem to have the strength to hold prices, so I think the blue band is the next step, unfortunately we are very close to the weekend, which is not very good, but I will wait for a close above the red band today, and a higher price so that we can open a range for weekend lateralization and later attack the blue band.
We will reach $68K soon!
