BTC TETHER USDT PERPETUAL CONTRACTS BTC/USDT PERP ; BINANCE; ATH

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BTC/USDT PERP; SWING AND POSITION TRADING ANALYSIS

As we can se the price is now at ATH; hence the price action analysis, the following will happen:
1. 69180 will reject, a base of a range will be formed
2. The inverse hold level of the ATH on higher timeframes will rejecet the price and it will form a final hold level to form a laddering up; breaking the trend for a new ATH
3. The price will not be held back at 69180, and so; it shall deepdive.
Updates soon.

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Rejected the target as predicted

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Updated chart will be available soon!

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This is a great example of a distribution cycle.
Btc is trying to complete it's distribution cycle to start his accumulation cycle. When a distribution occurs, the price will drop to a strong hold level (Backside). When it finds it's hold level, the price will break the first trend, ladders up, form an origin level (base of a range), breaks the second trend, goes to the origin level to create a trend.
What if the distribution is failing?
When the hold level does not support the price by breaking the trend, and falls down, this is a strong indication that the cycle fails.
While the price is laddering, there occurs a polarisation of each level. This happens by testing each inverse of a hold level on both sides. So, when the price breaks the trend, there won't be any levels left to hold the price back. Hence, the price will reach the next range.