BTCUSDT URGENT LOOK 4H. IS THE TOP IN?
2024-12-10
Category: None

Let's get some major point clea r:
 1.   AMEX:BTC  is still overbought. Bulls or "moonboiz" must not leave in denial anymore. 
 2.  PA shows a decrease of -1.7% in the last 24-hours
 3.  The 100k psychological level has been difficult to maintain for Bitcoin.

The channel shows a weakening run, which is expected at this point. The complete correction is yet to happen, only flashes of volatility. If BTC breaks out and down off the lower channel, that will signal the start of the needed correction.  200 EMA will be in play  (92k - 90k)

 On the bright side, 4h TF is looking too juicy already and same for many Altcoins , I expect  AMEX:BTC  to  pump anytime soon , while the alts will follow. For this bitcoin must catch the  98k price level and hold it . 

 AMEX:BTC  must overcome the resistance price level and reclaim 98k - 99k . Mondays are usual bloodbath due to Market fresh actions. 

Small traders are driving the volatility at the moment, while large investors are holding strong.  Monthly looks good  for bitcoin as well, which makes me not cancelling  120k - 140k  bitcoin price in this run. 

I'll be neutral for now, update to follow soon.

Like and follow. Comment if you disagree.