- Ah, the H4 swing structure of our dear Bitcoin, a veritable harbinger of bearish tidings!
- Should it dare to dip below the local support level, a whimsical rebound toward the lofty $99k may follow, like a cat chasing a laser pointer.
In the grand theater of cryptocurrency, Bitcoin [BTC] has been rather lethargic, with trading volume and volatility taking a vacation over the past ten days. After a flirtation with $92k in early February, it seems our digital friend has lost its spark. Swing traders, bless their hearts, are left scratching their heads in confusion.
Technical analysis, that fickle mistress, suggests that a strong move may be as elusive as a good cup of coffee in a Soviet café this week. Yet, fear not! Opportunities for trading still linger like a stray cat in an alley.
As the cosmic dance unfolds, the price action and the liquidation heatmap hint at a potential jaunt to $94k, as if it were a destination on a poorly planned road trip.
Bitcoin valiantly defends the $95.5k support, but… oh, the drama!
At this very moment, Bitcoin is meandering toward the 0.25 level within its range. The 25% and 75% levels serve as mere suggestions of support or resistance, akin to a polite nod at a dinner party, but they lack the strength of the mid-range level, which is the real deal.
Our dear 4-hour RSI has plummeted below the neutral 50, signaling a shift in momentum that could make even the most stoic of traders weep. The swing market structure on this timeframe is decidedly bearish, with the $98k-$99k zone standing as a formidable fortress over the past fortnight.
The low trading volume of late has left the OBV barely twitching, like a cat napping in the sun. The recent descent in price was accompanied by weak volume, suggesting it might come to rest at $95k-$95.5k, like a weary traveler at a roadside inn.
The 1-week liquidation heatmap reveals the $94k area as a magnetic zone, drawing Bitcoin like moths to a flame. To the north, the local highs at $99k beckon, a liquidity pocket of note, much like a tempting dessert at a banquet.
Short-term bearish momentum could lead our Bitcoin friend to $94k before it decides to rebound to the next magnetic zone at $99k, as if it were playing a game of hopscotch.
The 24-hour chart supports this whimsical notion as well. The price is more likely to visit the $95.2k level, the closest area of significant liquidation levels, rather than the elusive $97.8k level, which seems to be playing hard to get.
This minor dip could pave the way for a jaunt to $94k and a subsequent rebound, setting the stage for Bitcoin’s price movement this week. And so, the saga continues! 🎭
Read More
- EUR JPY PREDICTION
- DF PREDICTION. DF cryptocurrency
- ASTR PREDICTION. ASTR cryptocurrency
- Doctor Strange’s Shocking Return in Marvel’s Avengers: Doomsday Revealed!
- TRB PREDICTION. TRB cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- South of Midnight PC Requirements Revealed
- MIN PREDICTION. MIN cryptocurrency
- PlayStation Network Still Down, Here’s When It May Come Back
- COW PREDICTION. COW cryptocurrency
2025-02-18 04:12