2022-10-11 13:49:40
The week closed at 19.439 #BTC #week
The cutting continues in a narrow range (18.500-20.400)
Local liquidity was withdrawn for the purchase of 22.000
Removed the generated liquidity for sale at the level of 18.500
Total market capitalization (TOTAL) falls below MA200
(in history, these are extremely short moments that coincide with the "bottom" of the market),
let's see what will happen this time
Tested the local trend on the RSI and bounced off it (the nearest resistance is the global downtrend from January 2021
We are in the support zone formed by the ATH 2017.
Formed a densely traded zone of 18.000-21.000. Up to the level of 29.000, the minimum trade is minimal.
Growing volumes in the sidewall portend a powerful movement
Potential Double Bottom (DD)
Bearish trend
We continue to accumulate under MA200
The fear index is already at the level of 25 (in June it fell to 6)
RSI in the bearish zone
Still have not reached the main stop removal zone (17.600)
Given the macroeconomic situation, the probability of a decline increases
Formed a local trend liquidity for sale in the range of 18.100-19.000
The shadow of the weekly candle removed the liquidity to buy from the high of the previous week and closed lower
A takeover was formed on 3D TF after liquidity withdrawal (increasing the probability of going down)
Conclusions:
The drop from 40,000 occurred without corrections to the resistance zone, and as long as we are above the significant support zone (ATH 2017), the LONG priority remains. The probability of removing stops from the 17.600 level has increased.
Fixed over 24.000
25.000-27.000 - interresa zone (withdrawal of liquidity for purchase from the upper limit of the range
Global resistance zone test 29.000-32.000
6.4K views10:49