Bitcoin Analysis | What is Next?

Hello everyone, Bitcoin daily candle closed bullish. The most important levels, for now, is Naked POC at $53750 and at $48730. Sooner or later NPOCs are tested much like "Gaps" are sooner or later filled. The initial balance shows us that range and volume of the first hour session are low which in both cases indicates less interest in transacting at that level and this increases the likelihood of trading session. Daily candle opened near IB low which indicates a higher probability of an up-trending session. The funding Rate is kind of neutral which is a good thing. Open interest increasing same as price which indicates a strong bullish trend.

Based on these indicators, we can conclude that the price will sooner go up to Naked POC at $53750 than the other one at $48730. Any strong bearish price action from Naked POC at $53750 will push Bitcoin down towards the $50400-$50800 zone where are a lot of trapped shorts already and if we break this zone then we should down towards Naked POC at $48730. A bullish breakout above 53750 will push price towards the key POC level at around $57000.

Disclaimer: Not financial advice. Please be careful when trading this channel is just my opinion and perspective of what the charts look like in my opinion. This is to be used ALONGside your technical analysis and to give you things think about that you might have missed. You have to make your own decisions investing is risky. Don't invest what you can't afford to lose.

Hope you found today’s article helpful. If you want to learn more about trading follow me at @fizzonmyjayyce . Have a nice day :)

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