Recently, the Bitcoin (BTC) market is witnessing a real battle between the 'bulls' (buyers) and the 'bears' (sellers), with each team trying to assert its dominance over the market. This battle creates strong price volatility, keeping investors in a state of constant anticipation.
The candles that tell the story.
The bears have started forming a Doji candle, which is a candle with a small body and long shadows, symbolizing a state of uncertainty between buyers and sellers. The candle indicates the possibility of a downward price reversal, with a clear target of at least $82,000. But the bulls did not sit idly by; their response was swift, as they formed another Doji candle below the previous range, giving the price a boost to rise again, with an initial target at $86,000.
The volatility between $83,000 and $84,000: the battlefield.
This volatility between $83,000 and $84,000 clearly shows the magnitude of the battle between the two teams. The market during this period is moving indecisively, creating a difficult environment to predict the price direction. We notice that this battle is not just random price movements but indicates interventions from large financial institutions that may be behind these fluctuations.
Next target: $85,000.
If Bitcoin can surpass the $85,000 level, the next target will be $85,650. However, there is an important thing to keep in mind: reaching this level is not the end of the story. We must be cautious, as we might see a retest of supports below the price before we decide to enter new trades.
Waiting for support testing.
It is very important to wait for the daily close after reaching the $85,000 levels. If the price closes above this point, we may have positive signals indicating the continuation of the upward trend. But we should not rush into entering before we see the necessary confirmations. Once the supports below these levels are tested, we can then consider entering trades from lower areas.
No need to rush: patience is key.
One of the lessons we've learned from recent market movements is that no opportunity will be missed if we follow the right strategy. Any rise in the market is usually followed by a retest below the range.
Thus, we can take advantage of these opportunities when we arrive at a time that suits us, not when we are in the midst of the battle between the whales. The right timing is what ensures our entry into trades safely and successfully.
What should we pay attention to right now?
At the moment, I do not see any strong positive indicators that push me to rush into trades. However, there is one indicator that we should monitor closely, but I am not focusing on it right now, and I will discuss it with you later. The most important thing at this moment is to be patient and wait for confirmed signals before making any decisions.
In conclusion, we must remember that the Bitcoin market is characterized by significant volatility, and it is essential to be fully aware of the movements and important levels in the market. Patience, careful analysis, and decision-making based on available evidence is the optimal way to achieve success in this battle between the bulls and bears.
