Short-Term Target: 98k, potential run to 100k.
Long-Term Target: 87k, waiting for more confluences.
We are currently in a wedge formation. The VWAP, VAL, and Daily S/R levels are in play, and we’ve already seen a bounce. Today, the US markets are closed due to the death of Jimmy Carter. Tomorrow, the markets will reopen, and the Non-Farm Payroll (NFP) numbers are expected to be released. These numbers are anticipated to be lower. If not, prices may decline sharply.
SP500: Consolidation with positive movement in the 10-year bond yield.
Upcoming: Trump is set to return to the White House on January 20.
Tomorrow’s Expectations:
- SP500: An aggressive upward move is expected, followed by a potential downturn due to tariffs and unstable geopolitical situations.
- BTC: Expected to follow the SP500, maintaining a strong correlation (88% over the last 100 days).
Technicals:
- Indicators: RSI, VWAP, AO, ADX, MFI all suggest potential pump-and-dump activity.
- Weekly: Bearish
- Daily: Bearish (indicative of a bull and bear struggle)
- 4H: Bearish with short-term bullish potential
- 30 Min: Bullish
15-Min Insights:
- Open Interest (OI): Decreasing while price decreases, with volatile volume – Semi-bullish.
- Delta: Bullish
- CVD: Bullish
Setup: A+
