Market analysis: current situation and forecast
Colleagues, good day! 🕒 Let me remind you, be careful with short positions. A local reversal structure is forming on 1D, indicating a continuation of the trend.
🔹 Key points:
1️⃣ Fundamentals play an important role in the current situation.
2️⃣ Many traders see the "Head and Shoulders" pattern and try to sell with the aim of buying back at the levels of $76,080 - $80,200. However, such actions can be risky.
🔹 What is happening in the market:
- A large number of traders are shorting with leverage, but, as the last 15 minutes have shown, this can lead to significant losses.
- The volume map shows that all the walls have been removed at the top - the path for upward movement is clear.
🔹 Important dates:
- January 14 — full moon.
- January 16–17 — probable achievement of the $100,000 target, which intersects with our downward trend.
- On the daily timeframe, I marked key points, including the high volatility window zone in the new structure. After Trump's inauguration.
🔹 Long-term targets:
Based on the current structure:
- Nearest target: $100,000.
- Long-term target: $132,580 (with levels **$119,000 – $122,000**).
