BTC correcting, This isn't a crash smmfh
2024-12-22
Category: None

Crash talk🫠  Talk of manipulation and fake outs should have been anticipated weeks ago.  Markets refusing to react appropriately after consecutive weeks of high cpi readings and then a super hawkish Jerome Powell speech was crazy work.  Bitcoin is still in bull territory for this consolidation range.  🫠 Many are calling crash already, lol.  A 20% correction would be at 86k which is where the bottom of the consolidation is at on daily timeframe. That wouldn't even be considered a crash as 20% is normal for btc in bull environments.

Areas of interets:  Bullish mitigation block (the gray rectangle).

Vwap:  (green)Anchored below the Nov. 5th trump pump candle which is being tested

50 ema: (dark blue ema) being tested for first time on daily time frame

💡I also anchored a volume profile at the Nov. 5th trump pump and value area low also coincidences with the areas of interest.

💡Daily stochastic is oversold riding the floor and the daily rsi is below 50 with chance of making bullish divergences with prior lows