Assessment $BTC on April 25:
- D1 frame: BTC did not return to the 90x area as expected. Yesterday, BTC only reached around 916, successfully forming a green wick and closing the daily candle at 939.
The market is very excited. However, the daily volume candle continues to decrease, signaling weak buying power. Therefore, a daily corrective candle is necessary.
Support: 915 - 900
Resistance: 945
- D3 frame: The D3 chart closing is very rare when the closing price is outside the Bollinger Bands during the narrowest phase. Therefore, my recent assessment on the D3 chart is completely wrong.
However, the D3 chart will still have a correction towards the 90x area.
=> Assessment:
- Although the market is very excited, reflected by the BTC price line despite the small charts breaking down, BTC continues to successfully form green wicks. However, regardless, a corrective phase is still necessary for this uptrend.
I still believe BTC will correct to the 90x area or deeper in the next 2-3 days.
The view is incorrect if BTC closes above the 945 area today.
- Wishing everyone good luck!