12H chart (Figure 1) The current price has pulled back to the middle band of the Bollinger Bands, encountering short-term resistance. There is a good chance to remove the liquidity around 113,250 before reopening the downward trend. The overall market trend is bearish, and prices are fluctuating to fill the bearish gaps. The market makers might be conducting another round of sell-offs here.
15m chart (Figure 2)
Based on today's trends in Asia and London, the market has accumulated a considerable amount of liquidity (buy and sell orders). Before the holiday ends, it first pulls up, and during the actual trading hours, it goes sideways, likely indicating that there is distribution. Continuing the analysis from this perspective, I believe there is an 80% chance that the price will rise, breaking out of the consolidation range and creating an upward trend. However, as long as the liquidity around 113,250 is removed, it will drop back down like a waterfall, possibly even breaking below 110,000.
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9/29 Bitcoin New York trading strategy $BTC
12H chart (Figure 1)
The current price has pulled back to the middle band of the Bollinger Bands, encountering short-term resistance. There is a good chance to remove the liquidity around 113,250 before reopening the downward trend.
The overall market trend is bearish, and prices are fluctuating to fill the bearish gaps. The market makers might be conducting another round of sell-offs here.
15m chart (Figure 2)
Based on today's trends in Asia and London, the market has accumulated a considerable amount of liquidity (buy and sell orders).
Before the holiday ends, it first pulls up, and during the actual trading hours, it goes sideways, likely indicating that there is distribution.
Continuing the analysis from this perspective, I believe there is an 80% chance that the price will rise, breaking out of the consolidation range and creating an upward trend. However, as long as the liquidity around 113,250 is removed, it will drop back down like a waterfall, possibly even breaking below 110,000.