š Daily Bitcoin Analysis š
- BTC played out exactly as we predicted from our last update. It closed the weekly above 102.7k and subsequently hit our 106k target (highest weekly close ever). Since then, it's had a pullback to the 102.7k level again.
- The RSI and StochRSI are resetting further to the downside which will only give us more room to run once things cool-off.
- We're now starting to see many more levels liquidity levels build to the upside with a small one building at 102.2k. Imo, the perfect fakeout would be to grab the liq to the downside (and even go lower to 99-100k), before reversing to the upside and taking the liquidity near 107k.
- Most have already capitulated after the recent crash so a further move down would have people announcing targets of 90k or lower.
- Once the stock market opens Monday, we'll know a lot more. Now it's about practicing patience and seeing how BTC holds at these current support levels.
- Major resistance is now 106k, 110k, and the 112k trendline.
- Major support is now 102.7k, 100k, 95k, 88-90k, 86k, 83k, 81k, 77-78k, and 72-74k.
