BTC Weekly Signal: A Warning or Just Another Test?
2024-12-28
Category: None

Analysis: 
Bitcoin's current price action presents a critical juncture, marked by the flashing of the  PrimeMomentum LongTerm Signal BTC  on the weekly chart. Historically, this signal has proven to be 100% accurate, correlating with significant corrections whenever it appears. If the signal persists until the weekly candle closes in 36 hours, we might see Bitcoin entering a deeper corrective phase.

 Key Observations: 

The Signal's History:
 
 As illustrated on the chart, each red diamond signal in the past has accurately predicted a correction.
 
 
 Corrections following the signal have ranged between 7% to 25%, with the most extreme being a 72% drop during the bear market.
 

Potential Correction Zones:
 
 Two imbalance zones have been highlighted as potential targets:
  $85,000–$81,600: This aligns with the upper imbalance zone.
 $74,400–$70,600: A deeper support area, matching historical price reactions.
 
 
 These zones are consistent with prior correction depths and market behavior during similar signals.
 

Market Cyclicity:
 
 Corrections often precede major market rallies. Historical data shows post-holiday rallies were initiated by small corrections, fitting the current scenario.
 
 
 This aligns with upcoming macro events, including the inauguration of significant political figures, which could fuel renewed bullish sentiment.
 

 What to Watch: 

Weekly Candle Closure:
 
 If the signal remains active upon close, the likelihood of a correction increases significantly.
 

Reaction to Imbalance Zones:
 
 Monitor price action closely if Bitcoin approaches $92,000 or either imbalance zone.
 

Macro and Whale Activity:
 
 Whales may capitalize on this correction to accumulate Bitcoin at lower levels before anticipated bullish catalysts in 2024.
 

 Final Thoughts: 
This setup reflects a dynamic yet critical stage for Bitcoin's market structure. While corrections can appear alarming, they are often healthy retracements that set the stage for stronger bullish moves. Keep an eye on the weekly close and remember that the  PrimeMomentum LongTerm Signal BTC  has yet to fail in its predictions.

Will Bitcoin's trendline hold, or are we due for another major correction? Share your thoughts and let’s discuss! 🚀