BTCUSD $100k incoming end of year!
We have had a weekly Change of trend with perfect reversal patterns. The Wyckoff distribution was amazing and so was the head and shoulders pattern. The market was overextended and due for a massive pullback. We will definitely see price have a pullback to the $48k-$52k Price range. There is a breaker/order block combo at this price region. This means there is a lot of resistance to get through before we make new highs. If you zoom out, we are making lower low and lower highs, we can also see there is a lot IMB around $20k-$28k mark to be filled on the weekly chart. I would prefer price to fill the weekly IMB and mitigate last ATH's before pushing higher. This would make the market structure of BTC stronger long term. If PA can move swiftly over the coming weeks /month to the downside to create a lot of fear in the market, I believe we could see a strong backend of the year.
We have had a weekly Change of trend with perfect reversal patterns. The Wyckoff distribution was amazing and so was the head and shoulders pattern. The market was overextended and due for a massive pullback. We will definitely see price have a pullback to the $48k-$52k Price range. There is a breaker/order block combo at this price region. This means there is a lot of resistance to get through before we make new highs. If you zoom out, we are making lower low and lower highs, we can also see there is a lot IMB around $20k-$28k mark to be filled on the weekly chart. I would prefer price to fill the weekly IMB and mitigate last ATH's before pushing higher. This would make the market structure of BTC stronger long term. If PA can move swiftly over the coming weeks /month to the downside to create a lot of fear in the market, I believe we could see a strong backend of the year.
