📍Good morning dear friends! The price is still moving in its rising wedge; we see an update to the maximum, with continued bearish divergence on the MACD indicator. The volume balance indicator is moving higher and closer to its resistance zone. As I said in yesterday’s issue, the MACD has a tendency to predict further movement by bouncing off its zero line. Even if it shows bearish divergence, the indicator can only reach the zero line and then turn around—it won’t drop down. Set the indicator settings to negative.

📍 On the hourly candles. The new high received a strong reaction from sellers—we can see this by the long candle wick. There is bearish divergence. At the new high, the growth in volume has decreased. The overall indicator sentiment is negative.

📍 On the 15-minute candles. Bearish divergence; the overall indicator sentiment is negative.

📍 As I’ve been saying lately, the liquidation heat map doesn’t provide any additional information. Liquidity is taken from the top, then the hot zone appears after the first low below—we all already understand that most of the most gifted traders hid their long positions behind the first low.

📍For myself, I make the following conclusion: Yesterday I described in more detail what I think about this upward impulse; now I’ll only say that you need to watch for the preservation of the structure. We’ll go up as long as highs and lows keep moving higher, but if the price wants to take the hot liquidation zone of the liquidation map after the first low, and does it not just with a wick/shot through—like the current update of the maximum—but closes the candle body below the previous low, stays there for some time, then the chances of the price going down will be higher than the chances of it going up. At the moment, I think the chances of an upward move are 40%, and the chances of a downward move are 60%. If it weren’t for the greed and fear index, which is currently at the upper limit, then under this indicator setup, my chances for up and down would be equal.

Keep an eye on the updates in the comments to this post. I’m waiting for your well-reasoned opinion on this situation. Use my information only as a reference for how to approach market analysis, not as your own trading strategy or financial advice. Make your trades only based on your own analysis, experience, and conclusions. Green P&L to you, my crypto brothers 🙌.

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