BTC update after flash dump and new scenario
2024-12-12
Category: None

after the flash dump of  BINANCE:BTCUSDT  it firstly recovered above the trendline but dumped several times again bellow it - which invalidates the trendline somewhat. 

therefore I looked back at the daily timeline and see the following: 
- BTC found rejection on the VAH of the current upmove
- it seems to trickle down towards the 161.8 fib extension or at least consolidate between the dotted grey lines (past hights and lows)

- looking back at the last parabolic move up it first behaved similarly. it consoldiated downwards, building a bull flag in the process and then pushed upwards. if that happens again, which is likely imho, then it should push towards the 261.8 fib extension which is around 114k

let's see.