Alerts on the chart are ringing that the BTC price has broken 110,000$. New ATH - 110,797$. Regarding all the bearish signals on different indicators, we wrote during the day:
«But these signals can very well break, and moreover, while the price is in a stable uptrend on the hourly timeframe - we are confident that they will be broken, opening the way to test the psychological 110,000$.»
When we wrote in the evening at the rate of 109,263$ that we expect a correction, the expectations were as follows:
«… overall the most obvious thing is the range of 106,800-107,000$. Right now, these are the nearest important supports.
If it consolidates below 106,337$, the way will open to 103,745$…»
As a result, at the moment the price came to 106,117$, but quickly bounced back and very locally, the overbought condition was relieved.
What to expect next? As before, we believe that shorting this rise is still suicidal, because even the 30-minute timeframe shows a stable uptrend since yesterday.
Strong signal of a potential high on this timeframe, which we wrote about in the evening, was technically and quickly unloaded without breaking the trend.
Currently, the uptrend even on the 15-minute timeframe, so shorts for now - it's about 'the hedgehogs pricked themselves, cried, but continued to eat the cactus'.
On this same timeframe, additional targets for the current rise are visible - the areas of 111,404-111,681$, 112,824-113,151$. After that - much higher, to reach which on the current impulse is much more difficult - 119,372-120,515$.
