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Bitcoin is approaching a cluster of equal lows that could act as a near-term target. A weekly liquidity level around $57,700 may serve as a floor, though a fair-value gap and equal highs just above it could prevent a deeper decline.
Bitcoin is approaching a cluster of equal lows that could act as a near-term target. A weekly liquidity level around $57,700 may serve as a floor, though a fair-value gap and equal highs just above it could prevent a deeper decline.
This week we're still going to be looking for a bearish daily bias. Now we are coming into a bunch of relatively equal lows here. I think it's going to be a given. I think doesn't mean it's going to come true, but the fact that we're so close to this bunch of relatively equal lows here, which it will be illuminated further once we go into the daily chart. But yeah, the fact that we're so close to here means that it's very likely that this is going to get tapped. The only question is where is it going to stop? Because so far on the weekly chart, we have this liquidity level over here. At $57,700. Now the thing that, you know, kind of leads me to believe that we are not going to go all the way down here is because of 2 things. One, we have a fair value gap over here on the weekly chart. Now secondly, we have a couple of relatively equal highs right before this bearish fair value gap.
