BTC price breaks $90,000 and has entered a stable uptrend on the 4-hour timeframe. Key targets: $90,156, $91,105, $92,055. Potential breakdown level: $87,781.
"Dragon" and "Bullish Wedge" continue to play out, targets have been marked on the chart.
For now, the bullish scenario for the market is confirmed for the near future, and we are simply holding our long position from yesterday. We do not plan to add volume to the trade until either a test of potential breakdown levels of the uptrends on the 3- and 4-hour timeframes or a transition to a stable uptrend on the 12-hour timeframe occurs. And if we talk about what we expect to see sooner - it is indeed a correction. One of the important reasons is that P73 CryptoMarket Monitor has given signals of potential highs on the 4-hour timeframe for 10 assets from the TOP-200, including #ETH.
By the way, #ETH, since we are on the topic, has entered a stable uptrend on the 6-hour timeframe for this hour. With basic targets at $3,067, $3,130, $3,192. And a level of potential breakdown at $2,910.
But as can be seen, there are also three marks of potential highs on this timeframe, which is +1 argument for the impending growth correction since Sunday evening.
Another reason to wait for a correction is that BTC is currently testing two trend resistances at once. First, there is the trend line from the lows of November 21 and December 18, which acted as support until January 20, and since January 24, it has been a clear resistance. Second, there is a more local trend resistance from the high of January 14, which is very important for growth prospects. For now, it is hard to believe that this combo will be broken on the first attempt.
