Very first analysis of this year .
New state of market , Its important to go all through Top Down Approach Analysis , From Zoom out to micro frame Zoom In.
$BTC 3Month » Monthly
3-Month Timeframe
- Sub 82500 level remain very key pivot for HTF plays. Holding Mar-Apr 25 candle lows . price still in its HL structure .
- Usually post aggressive selloff at key HTF pivot , price do range for longer period to build authentic base to validate the HVN (High Value Node) base.
Weekly
- Post aggressive selloff , price playing out in the compressed range between sub 87k - 90k .
- High volume are more consolidated between sub 87k -90k for 5 weeks. Basically , building the HVN as discussed .
- closure of the weekly candle above sub 90k level would be strong bullside signal.
Daily and 4hr
- LTF range build , Stops hunted at extreme , Also tons of stops were hunted in 4hrs ..
- Just read closely and observe , how those quick inefficient expansive moves were happening while price been moving within the range.
- This is most engineered range where max order pairing happen , making it important and key pivot for base.
what now
- As discussed , will anticipate weekly candle to close above 90k or 94k .
- Successive closes of Daily candle will hint the development of the Price.
