This month will not be very trading for me, but you should not fall out of the market. Therefore, by tradition, a weekly analysis according to the Price Action Smart Money concept system.
As it was supposed earlier, it will be hard for the price to pass the $17600 mark the first time, that’s why we see the fading of growth around 45M OB. Of course, only shorts could be considered from the current zone, the main question remains – where to put the takes and what next?!
Chart: Bitcoin / TetherUS. Source: Trading View
In the current situation, it is difficult to say, because you need to see the reaction to the Fibonacci 0.5 zone. In this case it is OB 16300-16500$. From there, with confirmation, you can try longs, given the fact that if the price draws accumulation, then the decline may be lower to $ 15600-15800, if BTC consolidates below this level, then we will see a reversal.
But in my opinion, all the same, first we need to make one more way up. Therefore, in case of confirmation, from the above zones, I would look at purchases for short-term trades: we can see $17,600 and even $19,000-19,500. Then continue the decline.
Chart: Market Cap BTC Dominance. Source: Trading View
BTC.D moves sideways. In the current realities, it must be taken into account at the moment of opening a position, otherwise a smart chart can turn into a pumpkin.
Chart: Litecoin / TetherUS. Source: Trading View
So far, LTC looks stronger than BTC. I would watch the coin, and, in case of an adequate correction, I would look at longs upon confirmation. I would like to see a rollback to the area of $64.5-69, that is, either by 0.5 imba or by full fiil. In general, in the future, Litecoin can be considered on the spot. The potential of the coin is not bad: 5-6 x can do.
#Weekly #review #cryptocurrency #market #Katerina #Gussardi #December
