In my previous BTC analysis, I expected the correction to start from 32k-29k which is happening now (check my previous analysis in attachment below )
Are the bulls still in control and when to expect bounce ?
Simply, we can say as long as price is closing above 25k key level in high time frames .. Bulls are in control
BTC can bounce from any local support levels but the ideal point according to parabolic curve is around 25k (also act as a major support) and my midterm target are 36k-38k
In mean while, Dominance of BTC is showing weakness which is good news for altcoins market in coming days but keep watching it for any further update
Appreciate your support by rockets and comments Any questions or ideas please share with us ⬇️
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BTC dominance analysis…check here : ⬇️
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Closest BTC CME futures gaps (unfilled) :
- 35k
- 20k
I think 35k will filled first
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BTC hit 27k which is important local support and price start to bounce if this level failed to hold the next one 25k-24k (major support)
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In 4h chart we can see a channel pattern which act as support too for 27k level !
IMO the bounce should be from here or from next major support level 24k-25k
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Price action tells strong movement will happen soon !
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The only concern for bulls right now is the monthly chart which is looking quite ugly
But still there is a 1 week for changing the closure of this candle
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The price is trying to bounce from lower trendline of 4h channel mentioned above
Very interesting week to follow price action
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Price pumped to 30k then 27k then 29k in few hours
This was a awful move to liquidate as much traders as possible