We Tapped The IMBALANCE! Now What_ _BTC DAILY ANALYSIS

Hey, what's up guys. It's Matt and I'm here once again with another Bitcoin update. So we're going to be talking about this recent rally and this mitigation off of this imbalance and much more. So to start things off on the daily timeframe, the daily price action has formed this bullish impulsive wave, right? So once we pushed down and rejected this demand zone or the start of this demand zone down here at 18 and a half thousand, we rallied quite a bit. So we pushed all the way up from 18 and a half thousand up to around 22 and a half thousand. Now let's recall from my last update that I was looking for the price to push into this imbalance, which not only would we sweep these equal highs that we have to the left. So this is an area of where liquidity would be residing, but it would also fill the gap that was created when the price fell down on August 18th. Okay. And so we've been slowly working our way upwards, creating this upwards trend line. So this one here, which you can see a bit better on the one hour or on the two hour, right? So we've been forming these higher highs and higher lows, and now we finally have pushed up into this imbalance. So if I take out the volume profile and connect to this overall bearish trend that we had before we rallied and pushed into this imbalance. So this area where we had low transaction volume, that is an area of where liquidity would be residing and that's what we pushed back into right now. So this is the updated version. Now, personally, what I'm waiting for is for a market structure shift on a lower timeframe, because a rejection or a mitigation off of this imbalance will lead into more orders being placed into the market, especially from an institutional standpoint. So naturally the algorithms will look to efficiently fill any price inefficiencies left behind. And so because we tapped into this, I am expecting us to push lower. And so here on the one hour or even on the 15 minute, we can see how the market structure is starting to shift. So we were creating these higher highs and higher lows, and now there's a greater chance that we will push and break below one of these lows. Okay. So this is where we're going to see an increase. We're more likely to see an increase in these bearish 15 minute candles, as well as these bearish one hour candles. So currently it does look as though, because we spiked above this recent short-term high to the left would have failed to close above that. So we created this wick then failed to close above that wick. And on top of that, because the RSI is also showing signs of divergence, I believe that there's a good shot now that we are going through that market structure shift then from that point on, what I'm paying attention to is to see if we break outside of this trend line, because technically speaking, if we push all the way down into here, so 21.8 or 21.7 thousand, which would represent the bottom of this trend line. We would still technically be in this uptrend, which does happen every now and then. So just because you have an imbalance, that doesn't necessarily mean that you're going to see a large long-term reversal. It could simply represent a quick correction that pushes us a bit lower followed by a continuation higher. So for those of you that got into cells very recently and to let's say you placed a limit order inside of this imbalance, currently you'd be up inside of this trade, it'd be up in profit, but I would be monitoring this because if the price action is hesitant to break below this trend line and it's stalling and then we returned back into this imbalance, then I would be looking for this to continue pushing much higher. At that point, I believe we can push all the way up honestly to this wick that we had on August 17th. Even from there above that, we have this daily level of resistance basically at this round psychological level of 25,000. But if we do break below this trend line, so currently we do have a market structure shift on a lower timeframe, but if this continues with an increase in the overall bearish momentum, then I would be looking to this for this to drop all the way down towards 20.5 thousand or $20,000. And what would that line up with? Well, this is where, if we go onto the one hour and the last thing that I'm going to discuss is if you take out the volume profile and connect to this entire uptrend that has played out over the last couple of days down here, around 20,000, we do have an imbalance. Okay. But even if we don't tap into this imbalance, which it's not a significant imbalance, but there still is a price imbalance. Once we rallied, even if we don't tap into that with the Fibonacci retracement tool around 20.4 thousand or slightly above that, let's just call it 20.5 thousand, this is where you have the 50% Fibonacci level. So regardless, I'm looking for a regression back into the mean. So I'm looking for this type of correction, which could grant itself as a pretty good target to have if you are a seller, but that is of course, if we break below this trend line. And this is also your point of interest. If you haven't got into buys and you're not looking to chase the market during this uptrend, wait for some type of probable pullback into here. And if that happens and this region is rejected, then you can go long from there. So hopefully this helped guys. If it did drop a like and subscribe and then down below for those that want to join my trading community, or for those that want to join my telegram announcements channel, as well as the private elite group, which includes additional content, just like this and additional guides and private live streams that I have with members multiple times per week, then you can check that out as well. Thanks for watching. I'll speak to you in the next one.