Prediction evidence

Em

Emperor👑

@EmperorBTC

Bitcoin Price Update. Read it completely to understand where we are. BITCOIN CHART UPDATE: In Saturday's Market Update on YouTube, we covered the three things behind the move from $86.5k down to $80.5k. $450m of ETF outflows, FOMC minutes pointing to another rate hike before year end, and an underperforming OpenAI revenue headline that hit risk appetite across the board. Whether we like it or not, $BTC still sits at the back of the pecking order during risk-off events. 1. All that being said, while I'm sure most crypto traders miss the days when you didn't need to be a global economist and political expert to make an educated trade, we stayed true to the current bullish structure on $BTC. The ~7% pullback, as I highlighted in the video, was simply an opportunity (one most people had been waiting for), just like the ~8.5% pullback in the previous consolidation from $82k to $75k before we moved up to $88k. This time the confluence was the HTF range high (which we broke through and have now retested bullishly), the nPOC, and the HTF key S/R level all holding strong. 2. We then moved up, with some short-lived hesitation at the LTF range low, which I strongly recommended against shorting in the video, before reclaiming the VAL of the LTF range (which I'm long from) and pushing back up through the $83k region. 3. We're now coming back to retest the LTF range lows and S/R zone, which is crucial to hold. If we lose it, we could see a slow grind back down towards $80.5k, but I don't see that as a high-probability scenario given the higher timeframe tide. 4. The next real trouble zones, although sounds obvious, are the mid-range point and the range highs. Around the mid-range there's the VAH, an nPOC, and the mid-range point itself, which has already proven its importance in this LTF range. With all three overlapping, I'd expect some kind of bearish reaction there one way or another. Above that is the range high, which brings its own issues. With stacked highs and the Yearly Open sitting just above it, it has an SFP written all over it. But that's something we'll deal with when we get there! I'll be dropping another Market Update later today covering some alts alongside $BTC, so head to the link in my bio and subscribe to the channel!