BTC is clearly rejecting bearish scenarios that would open continuation toward the lows or even lower levels. The strong defense of the Monday low and the bullish MSB on lower timeframes show absorption and weakening sell-side momentum.
We are currently trading zone to zone:
January low around 89K acting as near-term supply
Strong demand zone around 86K
There is a clear lack of momentum to break and accept below 86K, which suggests downside is being capped.
I favor a bullish year-end close, even if price fluctuates around the yearly open. As long as we keep acceptance in these zones, the overall context remains constructive.
Primary bullish scenario
We need a bullish MSB on H4 around the January low near 89K. If price holds and accepts there, a move toward the yearly open becomes highly probable. Momentum confirmation is key.
If that level is reached:
There is a liquidity pool around 97K
Confluence with the weekly 50 EMA, a natural reaction area
Current outlook
Into this weekend, I want to see price consolidate above the 1H 200 EMA, followed by a strong impulsive breakout. If that happens, the monthly open becomes a realistic target.
Given the structural shift and invalidation of the bearish scenario, I closed my short and flipped long accordingly.
We are currently trading zone to zone:
January low around 89K acting as near-term supply
Strong demand zone around 86K
There is a clear lack of momentum to break and accept below 86K, which suggests downside is being capped.
I favor a bullish year-end close, even if price fluctuates around the yearly open. As long as we keep acceptance in these zones, the overall context remains constructive.
Primary bullish scenario
We need a bullish MSB on H4 around the January low near 89K. If price holds and accepts there, a move toward the yearly open becomes highly probable. Momentum confirmation is key.
If that level is reached:
There is a liquidity pool around 97K
Confluence with the weekly 50 EMA, a natural reaction area
Current outlook
Into this weekend, I want to see price consolidate above the 1H 200 EMA, followed by a strong impulsive breakout. If that happens, the monthly open becomes a realistic target.
Given the structural shift and invalidation of the bearish scenario, I closed my short and flipped long accordingly.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.