Bitcoin technical analysis

Bitcoin is close to the upper level of synthetic liquidity. However, the liquidity histogram is low, so it is unlikely we see a reaction off this area.

So lets look at BC on a H4 chart because then you can start to see the structure: What I see firstly is that BC currently is ranging, the moves it makes are often 3 or 5 wave.

Currently on the H4 chart it would appear wave 1 has formed, Now, lets say you had a very good way to find the top of wave 1, would it be a good trade to take?
The answer is not really because wave 2 tends to be small, sure you can make money, but you don't want to hold the trade, because even if its a wave 2 of three or 2 of 5, the move is small.

However, the Liquidity Map is not printing aqua red or purple candles. The Liquidity Histogram is not showing enough activity at this levels so although this would have been a level for me to trade off of in the past, I don't see the reason to now.

Compare this to turn two shown on the chart, look at the high level of the histogram and the large number of aqua candle and dark blue candles. This is a good level for a turn because the number one ingredient you need "LIQUIDITY" is there.

BTC has been on a downward trend channel but now shows first signs that it may be coming to an end. For that to happen, BTC needs to stay above 60618 and move above 65500. For now the trend is sideways.

BTC has short term support near 60618 and 60215. A break below latter would open gates for 57k.

BTC has rallied and the immediate resistance is now in at 65500. Above that around 67330. A move above the latter would conclusively suggest that the downswing from March is over.

BTC appears to have again gone into an uptrend and a move above 67300 would reinforce it.

Watching this unfold for the last couple of months. We might be up for another leg up. Keep in mid that this move that we are having now can as well be a part of bigger correction for wave 5 if wave 4 is not finished. Right now we are at the POC of the range as well, so my best bet is to watch out for a fast move either way.

long for $68600

long for $71K

long btc for $73150

In the short term, BTC has support near 66400 which should produce a bounce towards 70K+

BTC has broken thru its important level of 56.5K and now is perhaps headed towards 50K

BTC is currently in a bounce back but bearishness still remains. The rally is likely to face resistance near 63700

Is here any long term bitcoin investor?

As of yesterday, the hourly chart showed a desire to move into a downtrend. Hai and loi began to decline, which is the first sign of a change in trend. The light moving average with a period of 75 crossed the heavy moving average with a period of 200, forming a Deadly Cross - a good signal for moving south. The fact that the price takes into account the trend lines located at the fibo levels from the trend resistance may also suggest the truth of the movement. The basement indicator has reached the zero level, if it bounces down from it, it will be another sales signal. I think the main direction is sales.

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