Bitcoin Turned Down — It Was Only a Matter of Time
When the price gets stuck at the top and can’t move higher, it’s always a reason to stop and think. BTC got stuck around $118,000, started to form long upper wicks, and the volume started to decline. All of this pointed to a classic case of fading bullish momentum.
At this point, my indicator gave several key signals: weakening buying power, a change in momentum, and the formation of a potential reversal zone. I refrained from opening long positions — and this decision turned out to be the right one. The price went down and is now trading around $114,000.
Next, I will wait for a retest of the imbalance zone and work from the reaction from this zone.
It is important to understand: this correction is not something unusual. This is a technically sound phase after a strong rally. The market gets rid of speculative positions, gets rid of excessive leverage and prepares for either a reset or a deeper correction.
The market has weakened predictably, and that's actually a good thing. When the structure becomes clear, we can trade with a plan rather than just following our gut instinct.
When the price gets stuck at the top and can’t move higher, it’s always a reason to stop and think. BTC got stuck around $118,000, started to form long upper wicks, and the volume started to decline. All of this pointed to a classic case of fading bullish momentum.
At this point, my indicator gave several key signals: weakening buying power, a change in momentum, and the formation of a potential reversal zone. I refrained from opening long positions — and this decision turned out to be the right one. The price went down and is now trading around $114,000.
Next, I will wait for a retest of the imbalance zone and work from the reaction from this zone.
It is important to understand: this correction is not something unusual. This is a technically sound phase after a strong rally. The market gets rid of speculative positions, gets rid of excessive leverage and prepares for either a reset or a deeper correction.
The market has weakened predictably, and that's actually a good thing. When the structure becomes clear, we can trade with a plan rather than just following our gut instinct.
🟣indicator: t.me/CryptoVisionPro_news
🟣Forum: t.me/CryptoVision_Forum
🟣Forum: t.me/CryptoVision_Forum
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
🟣indicator: t.me/CryptoVisionPro_news
🟣Forum: t.me/CryptoVision_Forum
🟣Forum: t.me/CryptoVision_Forum
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.