Bitcoin Turned Down — It Was Only a Matter of Time
When the price gets stuck at the top and can’t move higher, it’s always a reason to stop and think. BTC got stuck around $118,000, started to form long upper wicks, and the volume started to decline. All of this pointed to a classic case of fading bullish momentum.
At this point, my indicator gave several key signals: weakening buying power, a change in momentum, and the formation of a potential reversal zone. I refrained from opening long positions — and this decision turned out to be the right one. The price went down and is now trading around $114,000.
Next, I will wait for a retest of the imbalance zone and work from the reaction from this zone.
It is important to understand: this correction is not something unusual. This is a technically sound phase after a strong rally. The market gets rid of speculative positions, gets rid of excessive leverage and prepares for either a reset or a deeper correction.
The market has weakened predictably, and that's actually a good thing. When the structure becomes clear, we can trade with a plan rather than just following our gut instinct.
When the price gets stuck at the top and can’t move higher, it’s always a reason to stop and think. BTC got stuck around $118,000, started to form long upper wicks, and the volume started to decline. All of this pointed to a classic case of fading bullish momentum.
At this point, my indicator gave several key signals: weakening buying power, a change in momentum, and the formation of a potential reversal zone. I refrained from opening long positions — and this decision turned out to be the right one. The price went down and is now trading around $114,000.
Next, I will wait for a retest of the imbalance zone and work from the reaction from this zone.
It is important to understand: this correction is not something unusual. This is a technically sound phase after a strong rally. The market gets rid of speculative positions, gets rid of excessive leverage and prepares for either a reset or a deeper correction.
The market has weakened predictably, and that's actually a good thing. When the structure becomes clear, we can trade with a plan rather than just following our gut instinct.
🟣indicator: t.me/CryptoVisionPro_news
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🟣Forum: t.me/CryptoVision_Forum
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
🟣indicator: t.me/CryptoVisionPro_news
🟣Forum: t.me/CryptoVision_Forum
🟣Forum: t.me/CryptoVision_Forum
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.