It seems like over the last 2 weeks bitcoin has been working on some sort of flat correction. What we're seeing right now is most likely a final impulse that leads to confluence zone of 32-33k with a lot of extensions there, previous highs awaiting a sweep and a price gap/1d.
This move should see exhaustion soon, and most likely will be followed by a drop to the base of structure (29k) or lower.
In case the the price keeps pushing above 33k with volume support, this scenario gets invalidated and the next area of interest will be then 36-38k (previous distribution)
This move should see exhaustion soon, and most likely will be followed by a drop to the base of structure (29k) or lower.
In case the the price keeps pushing above 33k with volume support, this scenario gets invalidated and the next area of interest will be then 36-38k (previous distribution)
From here it all comes down to whether it re-accumulates or not. If it does, I'll be expecting another bullish wave into possibly 37-38k, if not we're headed lower (23k?)
The next few days will tell us more.