BTC will go down before it goes up

已更新

BTC is at ATH levels already without taking a breath on the way up. I believe we will see some heavy sell pressure at these levels which will push the price down for now. Here's some of my reasoning:

BTC has seen a sharp rise since the beginning of this year with no time for it to breathe.
Cyclically, ATH breakout occurs November of this year which is still 8 months away.
Volume is low
Orderbook has lots of sell orders at 70k.

註釋

Looking good for October-November breakout

註釋

A significant support level has been reached. This is a great spot to go long

註釋

Sharp recovery from support

註釋

I believe BTC has seen it's last leg of downwards consolidation and we will only see upwards movement from now on into the next parabolic run.

交易進行

Breakout. Next resistance 105-110k

註釋

BTC could potentially see a sell off here as price approaches 110k. This is a key level as it represents the top of the fib extension. Timing the consolidation periods is tough during a bull market, so price may clear this zone. However, price action has been choppy up to this point so I think the market wants to sell off. regardless, this is a no-trade zone.