$BTC DAILY ANALYSIS. IS THE BIG SHORT AT THE DOOR?
As I expected in the analysis dated September 15, the link of which I left below, the price first retreated to 57,000 when it was at 60,000 and then continued its upward movement and reached the extreme supply area by taking the high that I expected to be liquidity.
It is quite normal for the price to slow down in this area. Since the price is currently in the decision phase, taking trades in lower time frames may end up as stop loss. The internal structure is still bullish and I think the demand area that the price is currently in may react upwards. Then, if I see bearish momentum to kick in and an entry model in the 4H time frame, I will look for sells.
Another scenario is using the 70,000 high as liquidity, which is a bit unlikely imo, and then the price falling with a strong bearish momentum. As long as 72000 is not exceeded, and I would expect a daily candle closure above, I think the first range that the price will likely to go is 49000 - 44000.
It is quite normal for the price to slow down in this area. Since the price is currently in the decision phase, taking trades in lower time frames may end up as stop loss. The internal structure is still bullish and I think the demand area that the price is currently in may react upwards. Then, if I see bearish momentum to kick in and an entry model in the 4H time frame, I will look for sells.
Another scenario is using the 70,000 high as liquidity, which is a bit unlikely imo, and then the price falling with a strong bearish momentum. As long as 72000 is not exceeded, and I would expect a daily candle closure above, I think the first range that the price will likely to go is 49000 - 44000.
Note
This 4H demand should hold if the bullish momentum will continue.
Note
Looks like 4H demand is going to hold. Bullish 4H choch would indicate that the bearish pressure gets weak as the price takes the 4H fractal high. Then LTF longs would be valid.
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