$BTC Update: We're retesting Wave B right at the start of

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$BTC Update:

We're retesting Wave B right at the start of the week, Clearing out the liquidity built over the weekend.

On the 4H, We've already seen a Bullish ChoCH following the V-Shaped Recovery, So as of now I'm treating this move down as a Bullish Pullback following a trend shift.

From a liquidity perspective, We had a Shaved Bottom at 82.5k which has now been cleared. What's interesting is that the last two 4H sessions also printed Shaved Tops, Which increases the chances of a reversal.

Overall LTF trend remains bullish, And like I mentioned earlier, We need to flip and hold above Wave B for bullish continuation.

This is a make or break level for bulls if they want to continue pushing higher this week.

CryptoZeno

$BTC Friday Reversal Is Kicking In!

Wave D extended a bit lower as bears squeezed liquidity towards the downside before running into full exhaustion.

What's interesting here is that we're inside a rising channel, and one of the characteristics of these channels is a Rising Three Pattern, where we see at least 3 taps towards the upper trendline, given that the lower end continues to hold.

Now, we also printed this Total 3 pattern here and are currently retesting Wave B. As always, Wave B is the Key S/R level for your pattern to play out all the way, so what we want to see here is a reclaim of the 82.5k region for confirmation of a local bottom.

We've created a ton of liquidity towards the upside, so a reclaim of Wave B could also trigger a strong inverse move and potentially give us that next peak into the 93.6k region.

On the other hand, if we lose the bottom trendline, my focus will shift towards the downside liquidity magnets sitting at 76.2k & 72.9k. This zone is still a huge liquidity magnet created previously, and I wouldn't be surprised if we revisit it. Hence why it's still on the table for me if we lose this area.

For now, from a liquidity pov, we cleared the majority of the local liquidity towards the downside while front-running the EQHs around 87k. The obvious move here would be to push back towards the upside, given that we're inside a bull market, and use the liquidity at the highs as fuel to push higher.

So overall this is an interesting area to observe and I'm keeping an eye on the charts with no changes to my positions or HTF targets yet, as the bullish structure is still intact.

Avertissement : ce contenu inclut des opinions de tiers. Il ne constitue pas un conseil. Binance Ai peut être utilisée, sans garantie de résultat. Consultez les CG.

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