Trader Outlines Shift in Bitcoin Price Dynamics

Nikita Semov, a practicing trader and founder of the Crypto Mentors project, explains the current market situation.

Daily timeframe analysis

The day’s bar is expected to close in buying, and thereafter we anticipate movement along the indicated arrow scheme: taking out bulls’ stops at the level of $11 126, followed by a buying wave pushing local highs to $12 468.

Bitcoin on the daily chart is sending clear signals in favour of buyers. This conclusion comes from the ratio of the attack angles of waves AB-A1B1-A2B2.

Hourly timeframe analysis

The price reacted off a trend line drawn with the Sperandeo method yesterday. This will allow us to gauge the seller’s dynamics from that level today. Yesterday’s thrust-out was a manipulation, since UT and the fourth point in the trend.

The expectation is to operate from Creek to Ice with the taking out of stops of long-position holders, but without strong selling.

Horizontal volume analysis

This week Bitcoin has shown a downward movement. We have not yet reached the $11,000 target, but the situation has changed.

During yesterday’s manipulation a lot of volumes appeared both at the highs and the lows, confirming the balance boundaries in which we currently find ourselves.

The most likely scenario would be a move toward the $11,510-$11,550 zone, where the latest selling volumes are concentrated and where delta could trace the classic model of level retention. In line with the laws of balance, an expansion of the sideways range downward before the true breakout appears likely.

Delta analysis

At the moment we have control by buyers, which tells us that this move is not fake and that we will reach the target zone.

On the other hand, this control is very weak. The current buying power will clearly not be enough to break through the level, especially with such a strong hold.

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