New ATH by end of February?
Bitcoin’s chart reveals a compelling bullish structure, highlighted by repeated liquidity grabs (blue marks) on the 1-day timeframe.
Since December, these liquidity sweeps on the red candles, where price briefly wicks below key support levels to trigger stop losses have acted as springboards for upward movements above 100k.
The momentum oscillator, shows bullish divergence forming as Bitcoin holds critical support, signaling weakening selling pressure.
The market is primed for a significant upward move. With the 100k Physiological level acting as a magnet, the combination of reclaimed liquidity, bullish momentum divergence, and a strong support zone create a high-probability for Bitcoin to surge to a new ATH.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.