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$BTC nearly reached the developing weekly 20-SMA, which now aligns with the 2024 close đđŒ. I wonât make a prediction on whether it will break out or notâitâs a 50/50 scenario. If it breaks above Sundayâs high, Iâll turn bullish again. If it gets rejected, Iâll be watching for a pullback to the "bottom" of this bear flag range, which could lead to another downward impulse.
Yesterday, stock indices closed with a bullish engulfing candle, making the charts look promising for a dead cat bounce after 12 days of constant decline. The only concern is the Dollar Index, which has been bearish for four days in a row but is now approaching a critical support level that could trigger a bounce. So, the situation remains tricky.
The news flow for crypto is bullishâSEC is dropping cases, and Trump is set to announce a Crypto Reserve tomorrow. If stocks hadnât been dumping for nearly two weeks, Bitcoin could be much higher by now.
#Bitcoin nearest Targets:
âŹïž Bullish move: breakout above 2024 close and re-test of developing decade VWAP VAH3, which should correlate with 1H FVG around 97300
âŹïž Bearish move: A drop back to the trendline or lower to Februaryâs close at 84300
Liquidation heatmap:
âą Above: 93370 / 93700 / 95175 / 97695
âą Below: 91237 / 90663 / 89680 / 88450
$BTC nearly reached the developing weekly 20-SMA, which now aligns with the 2024 close đđŒ. I wonât make a prediction on whether it will break out or notâitâs a 50/50 scenario. If it breaks above Sundayâs high, Iâll turn bullish again. If it gets rejected, Iâll be watching for a pullback to the "bottom" of this bear flag range, which could lead to another downward impulse.
Yesterday, stock indices closed with a bullish engulfing candle, making the charts look promising for a dead cat bounce after 12 days of constant decline. The only concern is the Dollar Index, which has been bearish for four days in a row but is now approaching a critical support level that could trigger a bounce. So, the situation remains tricky.
The news flow for crypto is bullishâSEC is dropping cases, and Trump is set to announce a Crypto Reserve tomorrow. If stocks hadnât been dumping for nearly two weeks, Bitcoin could be much higher by now.
#Bitcoin nearest Targets:
âŹïž Bullish move: breakout above 2024 close and re-test of developing decade VWAP VAH3, which should correlate with 1H FVG around 97300
âŹïž Bearish move: A drop back to the trendline or lower to Februaryâs close at 84300
Liquidation heatmap:
âą Above: 93370 / 93700 / 95175 / 97695
âą Below: 91237 / 90663 / 89680 / 88450