The situation with BTC hasn't changed much since yesterday - the price isn't rushing with impulses over the weekend.
The exit from the "Bearish Pennant" was blurred by a range, not providing the expected impulse drop.
Although if you look at the picture, for example, on the hourly time frame, it talks about restructuring the structure, the price is still drawing something like a "Bearish Pennant", just in a different form (shown in the screenshot of the hourly time frame). But its targets are about the same (i.e., $88,377 and $86,949).
A pending order to close the short at the level of $87,720 (below the low of December 7) was removed during the day, but today before the break we will return again.
The price remains in stable downtrends even on lower minute timeframes. And if we look at the 15-minute timeframe, there is a pronounced density of basic and additional targets from the current level up to $89,491. If the decline continues - there is a less dense target zone of $89,079-$88,231.
Confident signals for market growth have not been present yet. Although on the 12-hour timeframe for altcoins, there are indirect signs that it may start on Sunday-Monday. But for now, the market does not look ready for such growth without the participation of #BTC. And BTC is clearly not giving bullish signals.
At horizontal levels, our indicator P73 Smart Liquidity Zones (shows horizontal and levels according to candle structures) gives a simple picture - between the horizontal levels of $90,314 and $86,999 - there is emptiness. This means that:
- as long as the price is below $90,314 - it is heading towards $86,999,
- this move between two levels can be impulsive.
Futures trading on BTC at the Chicago Mercantile Exchange (CME) ended on Friday at a level of $90,330.
