Good morning, let's also take a look at the subordinate 15-minute chart.
Until yesterday evening at 5:00 pm, we had extreme downward momentum here. After reaching a new internal high of around $43,500, Bitcoin was only sold off after the closing of the American markets.
This was due to the wick formed during the first dump or liquidity grab, caused by Grayscale sales. Liquidity was largely taken out there, and afterwards, we experienced a beautiful price reversal.
Currently, in the 15-minute chart, we find ourselves in a very favorable situation above the crucial support (green box), the Point of Control (orange box), and even the 200 EMA.
If we could now form a new internal high above the rejected FIB, this would be a very bullish sign. Should we now start to erode our progress again, of course, the opposite. We'll know more in an hour!
Until yesterday evening at 5:00 pm, we had extreme downward momentum here. After reaching a new internal high of around $43,500, Bitcoin was only sold off after the closing of the American markets.
This was due to the wick formed during the first dump or liquidity grab, caused by Grayscale sales. Liquidity was largely taken out there, and afterwards, we experienced a beautiful price reversal.
Currently, in the 15-minute chart, we find ourselves in a very favorable situation above the crucial support (green box), the Point of Control (orange box), and even the 200 EMA.
If we could now form a new internal high above the rejected FIB, this would be a very bullish sign. Should we now start to erode our progress again, of course, the opposite. We'll know more in an hour!