I can see a high of $88,900 maybe extending to a maximum of $89,100.
Price action will target the previous reconcilation area: $85,300 - $87,440.
Really big support area. It's going to be tough to go at this bottom level again.
If price manages to drop down, one thing is certain: 1) Institutions, Banks & Hedges are selling to secure the highest possible price. They need liquidity...as Monday started really bad on stock exchange.
After that we will probably keep the reconcilation area and keep swinging from $82,700 (MAYBE lower at $81,240) up to a maximum of $91,000 for the rest of the week.
A peak of the current uptrend at 3rd of May and then a slow downtrend until 19th of May. Which then I'll be expecting to see a shift to the market structure. Either a reversal or an acceleration.
Can't really tell if I don't see the upcoming days how they'll go.
I do know tho based on my analysis so far that a peak for BTC would be around $91,000 - $93,000
Not expecting BTC to pass this price range.
Also IF BTC manages to pass this price action, the altcoin season would start.
I can see this level as really big and important resistance that exists on similar levels to alt coins.
Example on photo below.
Green wick is from BTC - orange line is the resistance that needs to overcome so altcoins can go on the "next level"
Second photo is from an altcoin.
If my theory is right, once BTC passes this difficulty some alt-coins will do it as well automatically.
Last but not least in order for my prediction about the dates I've mentioned for the BTC to be correct and as close as possible.
BTC has to close below $87,200 Ideally it'll close below or really close to $86,400!
I clearly do believe this is a perfect move for banks and institutions, during the crisis in US & of course the geopolitical tension all over the world to sweep any liquidity from the markets during this crash which is just the beginning.
The whole market is crashing, and everyone is investing in crypto which is the most volatile and aggressive market? IMO BTC is just "checking" the waters above and will retest before failure to the bottom support zone.
Whoever bought after the spiked began, IMO is already -40% to -100% and they don't know it yet.
Open up your charts - BTC starts to create a golden cross with the EMAs OR it could be a death cross. That would be on the 4H Timeframe. What you guys think? I'm personally going LONG - I got my strategy and TA right I think.