Let me give you a quick analysis and prediction of my own on BTC 1. Right now $BTC is ranging between and over its weekly support zone of 113984-111000. For it to continue its uptrend momentum it should range on this zone. 2. Long maxpain liquidation is sitting almost at 112000. Liquidation sometimes can sometimes be very helpful in predicting the market shifts. You can understand liquidity as it is the fuel for Coin/token to continue its uptrend/downtrend momentum. Right now some liquidities are accumulating below the BTC CMP. 3. If we look closely at shorter timeframes like 1h and 4h, we can clearly observe that there is VOLUME DIVERGENCE. Although price tries to pump a bit but the VOLUME is not corresponding along it.
MY OWN PREDICTION: I think BTC should dip a little or at least give a WICK to the 112000 zone to accumulate all the liquidities and then take that as a fuel. After taking those liquidities, I think then it can go further to make new All TIME HIGH. Remember: Its my own prediction not a signal where you go long/short on that coin pair.
WHAT YOU GUYS CAN DO: What you guys do is your own choice but I will suggest to monitor some altcoins and watch their support levels to prepare a long setup when necessary. Moreover the terms I used in this post can be tricky for some beginners, if you guys find it difficult then feel free to ask freely about that in the comment box. WHICH TRADE CAN BE BETTER NOW: Right now I myself am focusing on some shorts that can be profitable and I am using 0.5% of margin to compensate the risk. Moreover I close the trade after getting 50-70% profit. If you like the analysis and prediction you can like it. Eagle
#BTC #analysis
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