Disclaimer: The material does not constitute financial advice or a call to action. The presented analytics are the private opinion of their authors. Incrypted is not responsible for the investment decisions of readers.
On February 9, 2024, the Bitcoin rate again tested levels above $48,000 and consolidated near this level, according to TradingView. Cryptology experts predicted further changes in the prices of the first cryptocurrency and some altcoins.
As we can see, the price has returned to the extremes of 2024 and will soon surpass them. Its goal is to update the annual maximum by filling the monthly imbalance.
The manipulation falls on Sunday, February 11, 2024. In this regard, we expect a pullback in the first half of the week, therefore, we need to prepare to select altcoins; there is not much time left for jumping.
Before moving to $52,000, we want to see a rollback to $46,000, followed by a return to strength and a jump. Everything here is as obvious as possible, except that the correction may be deeper – to $45,000.
Everything is similar here, we have two areas for catching Bitcoin, if of course it goes down and does not ignore the correction.
The asset is interesting for purchase when entering the turbulence zone between $0.36 and $0.34. When volume appears, it is worth considering it for longs.
The situation is similar with Maverick (MAV), I would like to see a pump here in the coming days.
But before that, we want the price to be minimal, but we want to go into the area and work with the pools there. The chart looks strong, the asset may continue its structural movement.
The week absorbs in a similar way. We are waiting for a shot at withdrawing local liquidity pools from weekly highs.
Before moving to $4.2, we need to update the local minimum. However, we must remember that growth can continue without strong corrections.
PEPE tested the area of interest and received a reaction of 13%, but it is too early to rejoice. We expect another long-term accumulation within the current range with the goal of testing $0.00000082 and opening the road to $0.00000439 and higher.
As soon as we reach the $0.00000102 area, we expect to see weakness in the altcoin and a willingness to update the low, forming a clear structural swing for a future break in the daily time frame.
When strength appears and the asset consolidates above $9.24, growth awaits us. However, if we catch weakness there and the price closes the weekly candles with large wicks, then the next goal is a re-test of the imbalance area and only then a rise to $16.
If liquidity turns into structure, we will be on track for an impulse pump with a daily candle close above $7.87. This movement will be more like a structural move from the MAV coin.
More analysis in the Cryptology Telegram channel.