This analysis covers Bitcoin price movements observed in the past weeks, with a focus on recent support and potential future direction. Key points include:
– **Price Momentum:** The #BTC price has recently broken through a significant bullish trend line (OB) lasting over 100 days.
– **Support Zone:** A strong support zone between $100,000 is identified based on historical data.
– **Short Opportunity:** Shorting opportunities exist around the marked OB that now acts as a potential turning point.
– **Long Strategy:** Long positions are potentially viable if price holds above the key support level at $100,000. A bearish candle break below this zone would invalidate these long trades.
The Wyckoff analysis methodology will be used for further trade decisions when price reaches identified zones. My trading preference focuses on areas of confluence and potential high-impact levels.
Current Market Sentiment: 28% Fear, Twitter is buzzing with