The ATH in 2021 had the monthly candle close at $ 61417 and wicked up to SWB:69K before the downtrend and bear market started.
Today we have the february candle close which also sits at $61417 so a monthly closure above this level will be important for an ATH before the halving in April.
Looking for the 4h to hold support at $26.8k after the rally yesterday which is the 1D high after the dump from $29k. Failing to hold the $26.8k support then $26k or $25.2k may be next .
If we see the #BTC spot ETF delays this week from the SEC it will invalidate the next move up to $30/32k.
#BTC still in a boring $200 range since friday 4th and awaits volatility .
Expect the next move to come on Thursday or Friday when we see the
the result of the latest inflation figures. At the moment its a nothing burger unless
you take risky scalps.
After days of sideways movement #BTC getting close to a possible big move on the 4H after forming the Symmetrical triangle so which way will we go ?.
With Macro headwinds and low Volume the most likely move will to the downside especially after the fake out rally rejection at 20.4.
The bullish sentiment being a high number of outflows of #BTC from exchanges over...
#BTC at the daily resistance 21.6k so a break above should take #BTC to 22.5k. will be watching end of day / weekly candle closure and maybe CME gap tommorrow.
SINCE Jan 2022 #BTC has continued to decline in trading volume as shown on the daily OBV.
The 8th Jan 2022 was 4.7M but today we see 1M , so until we see volumes back up to high levels
i dont see #BTC rallying up above 25k and the fake outs to continue.
#BTC forming a falling wedge on the 1H Which is a Bullish continuation or Bullish reversal pattern that may play out if the bulls can increase the volume . If so expecting the 24.250 area to be tested.
On the 1H chart #BTC making lower highs between 3pm / 4pm every 2 days on the last x3 occasions so expecting the next lower high to be in today 26th July.
The #BTC daily Bollinger bands are getting very tight indicating a big move is coming.
Also the chart shows a pennant formation as tweeted by Peter Brandt today which confirms
a big move this week !! .
