Hello everyone,
hope you are doing well.
Today I decided to bring you my Bitcoin analysis. First as you can clearly see Bitcoin is bullish on 4 hour timeframe. Why do I think this won’t last long? Why this will be the last move before a major correction?
First - on a daily chart, we enter a bearish order block between 29900$ and 31800$. Second - down we have a lot of unhitched liquidations and as most of you know the market is driven by liquidations. Third - when we have a trend reversal(daily chart) the smart money enters enter in the direction of the previous Trend by closing their shorts at a higher bottom (when turns from bearish to bullish). Only then the price can continue for higher values.
When do I expect the drop to start and where are my targets?
I expect the fall to start sharply from April 20th (+ - 1-2 days). My first target on 4 hour charts is 26300,where the stop of bulls are placed. There are most likely many people waiting to buy with limit orders which will cause the price to bounce of that level. Where is my daily target? 16500$. This may seem very far away. Just Stand and Watch!!!Good luck!