BTCUSD Analysis (13th April 2024)

Crypto Analysis (13th April 2024)

BTCUSD Analysis

On the Daily Timeframe, Price action has created a Huge dump due to the 800+ Million Liquidation across multiple different exchanges. Nothing fundamental changed about BTC just yet. Just the usual happenings in the crpyto space.

Price has reached a daily orderblock and has shown strong rejections from that key area and closed the daily with a strong bottom wick indicating rejections.

There are 2 scenarios i see playout.

1) Price has just flipped the new daily candle after creating another huge bottom wick, Buys from here at 67602 is possible to come up to fill the clean candle on the left caused by the sell off. I want to see at least 69252 be tapped.

2) Price fails to hold, breaking the bullish daily orderblock at $64572. Once we see a body candle closure below that level, Sells are alot more likely to occur and i will look for a break and retest set up for shorts to target $60,000.