BTC-1h. Will the new year begin with consolidation?

29 thg 12, 2020

Having set a new all-time high on December 27, BTC buyers were unable to continue growing due to strong opposition from sellers.

In the previous idea, we have identified a fairly large range, from which we expect a correction in the price of BTC.

In this idea, we decided to show a short-term forecast.
As you can see, buyers again formed a consolidation for the breakdown of the range of $27400-27700. Given the volumes that are concentrated in this range, we are not sure that buyers will be able to break through this liquidity zone for the first time.

Therefore, by the end of the week, consolidation in the BTC market in the range of $26200-27700 is quite likely.
Below is $ 26,200 the first serious level of buyers is $24,700-24900. However, so far buyers are coping well with the situation inside the triangle. And the probability of breaking the triangle up somewhere in early January is currently higher.
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We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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