🪙BTC is ready for local growth

Yesterday, the market performed a classic manipulation: the price removed liquidity from $92,000 and quickly gave a strong upward impulse. BTC is currently trading around $95,700.

To confirm the reversal, it is important to see consolidation above $96,600 and a breakdown of the imbalance of $97,700–$98,500. Only after exiting above this zone can we confidently expect a movement toward liquidity of $101,000–$103,000.

The market is gradually forming a reversal, and it’s good that the manipulation happened yesterday—the week started with growth.

❗️Obviously, BTC now looks weak on the weekly timeframe - this is a fact.

🚀But the weekly chart of $STRK shows a completely different picture: a large breakout candle formed, and the week closed above the upper Bollinger band. 🔥

$STRK looks noticeably stronger than the market and demonstrates a confident bullish mood📈

💸CryptoQuant reports that stablecoin reserves on Binance have increased by $9,000,000,000 over the past month

Such an increase often precedes a market rally, as an influx of stablecoins can indicate investors are ready to actively buy.

🗓 The main events of the week - short and to the point:

MONDAY, November 17th
- Silence. The market moves itself.

TUESDAY, November 18
- Nothing important

WEDnesday, November 19
🇺🇸 Federal Reserve Protocol (22:00).
The most important event of the week. Any word and the market will either fly away or collapse. Sounds normal.

THURSDAY, November 20
🇺🇸 Initial Jobless Claims (16:30).
Unemployment claims: if the numbers are bad, the market is sad, if they are good, the bears are sad.

FRIDAY, November 21
🇺🇸 Fed balance sheet (00:30).
🇺🇸 PMI for November (17:45).
🇺🇸 Inflation expectations (18:00).
A triple set of statistics that could shake the market at the end of the week.

This is the worst Q4 for BTC since 2018 so far 😕

☕ Morning market review

The market is really shitty, they put a lot of pressure on the price of BTC.

🪙BTC $95,449
🪙ETH 3,193$

Fear Index 15
Altseason index 31
Bitcoin dominance58.93%

Growth leader: ICP +10.47%
Leader of the decline: STRK -17.51%
⚰️Liquidations: $1.02 billion

We removed the GAP, but so far the BTC chart is completely weak. Although some altos show strength. There is still a chance for a reversal; this week will be decisive.

🤔Arthur Hayes said in a new essay that the fall in BTC is not due to fundamental factors, but to a decrease in liquidity - flows into ETFs and DAT have noticeably decreased.

According to his forecast, Bitcoin may correct to $80–85 thousand, but after the US stock market recovers and liquidity returns, BTC has a chance to rise to $200–250 thousand by the end of the year.

🪙Cryptocurrency skeptic Peter Schiff said that the fall of Bitcoin relative to gold proves the inconsistency of the idea of “digital gold”

BTC recently dropped below $90,000, which is minus 28.5% of the ATH. But most importantly, in relation to gold, which confidently remains above $4000, Bitcoin has fallen in price by about 40%.

❗️According to Schiff, this shows that the myth of “digital gold” does not work, and investors who believed in this concept may begin to sell BTC en masse.

🪙By BTC locally

Bitcoin fell by 7% during the day, removed liquidity by $91,600 and tested the daily imbalance of $91,800–$88,400. The asset is now trading around $91,300 and is already showing a confident reaction from the lower border of the zone.

To continue growth, you need to gain a foothold above the local imbalance of $93,200–$94,200. A breakdown of this area will open the way to liquidity of $98,000–$101,000.

❗️The market looks ready for recovery - all that remains is to wait for a confident consolidation above the first resistance zones.

🐻Anacryptoquant analysts expect BTC drawdown to $87,500

$87,500 is a support level that has held since March.

🪙By ETH locally

Ether is trading around $3,095 and is growing confidently after the removal of liquidity in the $3,040–$2,900 zone. The price is moving towards a key level that will determine the further trend.

To continue the upward movement, you need to gain a foothold above the structure break at $3,200 - only a breakdown of this high will open the way up.

❗️If consolidated, we can expect a movement towards liquidity in the area of ​​$3,260–$3,360 and above.

🚀Starknet hints at an upcoming announcement.

"Privacy on Starknet" 🤫

💭Here's why, in my opinion, going to $85,000 before a major rebound looks logical:

If you build a channel, the $83,000–$87,000 reversal zone perfectly coincides with its lower border 👌

When the price reaches this level, the moonboys will start shouting joyfully: “We hit the support of the channel - further only ATH! 🚀

A rebound is really expected there, but instead of reaching a new high, the market will most likely form a lower high and then break through support📉

This channel could be the perfect trap for anyone who blindly believes in endless growth😏

Meanwhile, crypto holders waiting for a new bullrun:

☕ Morning market review

Again a correction from growth, this time we won’t go update the loi?

🪙BTC $91,875
🪙ETH $3,096

Fear Index 16
Altseason index 28
Bitcoin dominance58.95%

Growth leader: STRK +26%
Top Fall: XMR-10%
⚰️Liquidations: $285 million

The reversal after such a strong fall will not be v-shaped. The best thing we can get is a clearing of the trade and the formation of a higher loy.

🪙Michael Saylor assures: even a fall in Bitcoin by 80-90% will not be a problem for Strategy - the company initially prepared for such scenarios.

He also noted an interesting trend: BTC volatility is gradually decreasing - from 80% in 2020 to about 50% now. According to Saylor, it's not the funds; the market itself is becoming more mature.

Over the long term, he expects Bitcoin to trend toward levels equivalent to about 1.5x the volatility and return of the S&P 500.

So what do you think - is it time to put up $20,000 buckets for BTC?😅

🪙By BTC locally

Despite the upward reaction from the $88,550 level, the market still looks weak - there has been no strong rebound from the key zone. This may lead to the level being retested again.

If the retest takes place, I will enter a position from $88,550. Next, I will wait for a movement to $93,850 and take a position if the price consolidates higher.

We have already seen a strong decline from $93,850, and this scenario could happen again. Therefore, I do not open trades “in the air”, but wait for a clear entry point.