Bitcoin Anticipating the Next Move
2024-09-24

Bitcoin is approaching a critical level at $65,000, where significant selling volume is expected. The market's reaction at this point will largely depend on the timeframe in which this volume appears, setting the stage for Bitcoin's next targets.

 📝 Scenario 1: Volume Validation on the 1D Timeframe 

In the worst-case scenario, if the selling volume is validated on the daily (1D) timeframe, we could see a target at the newly formed weekly Fair Value Gap (FVG)—assuming it forms by the end of this week. If the FVG doesn't materialize, the immediate target shifts to  $52,500 . From there:

 
 Bounce Back: A rebound to the $57,000-$59,000 range.
 Deeper Dive: A subsequent drop to $42,300, potentially leading to retail capitulation.
 

 ⏰ Scenario 2: Volume Validation on the 4H Timeframe 

Alternatively, if the volume validation occurs on the 4-hour (4H) timeframe, we might experience:

 
 Minor Correction: A brief pullback.
 Continued Growth: An upward move updating the range up to $84,000.
 

At $84,000, market makers may execute large sell orders, leading to a significant correction of 20-30%, potentially initiating a new downtrend cycle.

 🎯 Key Takeaways 

 
 Monitor Timeframes: The timeframe of volume validation at $65,000 is crucial.
 Be Prepared: Different scenarios point to either a substantial correction or continued growth before a major pullback.
 Stay Informed: Keep an eye on market indicators and be ready for swift movements.
 

 🔍 This analysis is for informational purposes only and should not be considered financial advice. Always do your own research before making investment decisions.