Price Z-Score 200d shows a bearish divergence⚠️ in its internal structure which could drive #BTC price to $75k and below. In September, we identified correction signal for #Bitcoin after the indicator reached Overbought🔴 zone with a projected pullback to an initial target $78k down to support level at $71k — we are currently in middle of this move🤝
Exchange CDD Pressure Index #Bitcoin cooling down, but still above 2.00🔺 Typically, peaks in this indicator are linked to a climax plus formation a low — and the market enters a new sideways trading range. Once the indicator returns below Neutral Zone⬇️ it confirms that decline has ended and paves the way for #BTC price to rise again — until that happens, the market tends to remain in corrective trend.
#Bitcoin nearly completed a full reversal after filling 100% of resistance channel. In our last TA we highlighted the importance $84k in triggering the reversal — this region turned into resistance during month October, signaling the start of reversal. Now #BTC price is approaching the upper zone of support channel offering an opportunity to begin closing out the Short Hedge Position. The targets are below $78k — down to lower base of $71k–$68k At same time, the advanced Long Position we began building within resistance channel — to protect against increased exposure in hedge should price advance through another subcycle — has an average price near $80k, with new orders to increase the Long Position also beginning to trigger below $78k, with a final target of $71k–$68k. The goal is to bring the average price of Long Position to $73k–$75k The primary expectation is that rotation will continue until the support channel is completely filled — at some point. patience is key!
