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BITCOIN - Manipulation and liquidity hunting before the crash
$BTC /USDT is stuck in the range of 85K - 90K. There is no liquidity in the market, but at the same time, the downward trend continues...
Earlier, we discussed such a nuance as the breakdown of support for the upward local trend. The global trend is bearish, and this nuance generally indicates a weak market. In addition to this, there is no liquidity in the market: there has been no inflow of funds into the cryptocurrency market in the last few weeks, hence the current manipulations that have been taking place over the last few days. (A low-liquidity instrument is easy to control...) Technically, $BTC is within the trading range of 85,000-89,400, which is formed after the breakout of the support of the upward channel, i.e., in the short zone. A retest of 89-90K could lead to a short squeeze and a fall. $BTC Resistance levels: 89,400, 89,900, 90,600 Support levels: 85,000, 83,800
A short squeeze and liquidity capture relative to the specified resistance zone could trigger a further decline, provided that bears keep the market near the previously broken boundary of the upward line... #bitcoin #CryptoAnalysis
$SOL after updating its low, is forming a correction to the resistance conglomerate, but will the bears be able to hold back the upward movement?
$BTC is testing 90K but is currently unable to consolidate above this zone. This is having a negative impact on the entire market. SOL is testing the 125.5 zone of interest after updating its low. If the bears keep the price below this level, SOL may come under pressure. Two key areas of interest: 124.5 and 128.9. If 124.5 does not hold the market, then before falling, within the global downtrend, $SOL may test the upper resistance.
Resistance levels: 124.5, 128.9 Support levels: 120.15, 116.7
Global and local trends are downward. At the moment, a countertrend correction is forming, which may be stopped in the indicated areas. A false breakout could trigger a decline. #solana #CryptoAnalysis"
$ETH /Usdt - Hunting for liquidity before the decline continues
Ethereum quickly returned to its decline after a short squeeze based on market manipulation and updated its low to 2805.
Looking at the daily timeframe, we can see that ETH is in a downtrend. An attempt to break the bearish trend resulted in another decline, which has been going on for more than a week. Bitcoin fell victim to the reverse Christmas rally yesterday and formed a rather interesting daily bar on Wednesday, indicating a weak market. Global and local trends are downward. $ETH is pausing after a bearish rally. The 2805 pause zone could trigger a correction to the zone of interest — the border of the previously broken consolidation zone of 2890-2936.
Resistance levels: 2890, 2940, 2975 Support levels: 2805, 2715
A countertrend movement may form a false breakout before a further decline. Given the current technical situation, it is not rational to consider buying. We are looking for opportunities to sell... $ETH #CryptoAnalysis
BITCOIN - The downward trend may continue. Focus on 88K
$BTC /USDT failed to realize its bullish potential associated with positive news. Is crypto winter getting closer and closer?
Fundamentally, despite the rate cut and a relatively positive overall backdrop, the market continues to fall. Bears held the 95k resistance and the 90k zone. $BTC is breaking the consolidation support and entering a distribution phase. The decline has been temporarily halted by support at 85,500, and the market may correct to 87,000-88,000 (the break-even zone) before continuing its decline within the current trend. The target the market may strive for is 84K-80K.
Resistance levels: 87,000, 88,000, 90,000 Support levels: 85,560, 83,800, 80,000
If the market continues to lack support or no bullish driver emerges, the $BTC price may fall even lower. I expect a retest of the zone of interest (the support area of the trading range) and a further decline to key levels... #bitcoin #CryptoAnalysis