The BEARISH Reaction! How Do We Play This_ _BTC DAILY ANALYSIS

Hey, what's up everyone. It's Matt, and I'm here to bring you a brand new update for Bitcoin. So we're going to talk about the recent mitigation off of this daily imbalance and what you can look out for this upcoming week. And so with that being said, let's start things off on the four hour. So taking a look to the left, this is what this price imbalance looked like before we tapped into it. So with the volume profile, it shows this gap that we had that stretched roughly between 22.2,000, all the way up to around 22.8,000. And so if I refine that now, this is what it currently looks like. So this is the updated version. Now, something interesting that happened before we had this mitigation followed by this reaction and the price action is that we briefly consolidated for a bit. Where we started to create bearish candles. I remember after this one, when the price was consolidating, uh, prior to the drop-off, it looked as though the price was going to drop. However, it ended up pushing a little bit deeper up into the upper portion of this imbalance. Okay. Which would have resulted in a liquidity grab followed by this reaction. So I'm only bringing this up because this was brought up to me by a community member in the elite group. And I also know that I've been messaged by other people on telegram where they were inside of a trade setup here, and then they got taken out out of this trade while the price was still technically consolidating and then it. Dropped down. So that's simply the risk you have to accept. If you are entering a trade setup, let's say in the middle of an imbalance. So the midpoint was here at around 22.4,000. If you're an aggressive trader and you get taken out while the price is still consolidating and while we were still respecting this range that we were inside of, which you can see a bit better on the one hour when that was still being respected as well as this trend line here, or you could refine it to represent this. You have to understand that there's a chance you could get taken out. So you will have to look to reenter. Otherwise, if you did enter and it wasn't as aggressive, then you have to take into account that while the price is still consolidating and we were creating these equal highs here to the left. And so if we see a spike above that, understand this could represent one last liquidity grab, so you're going to have to trade with either a wider stop loss or you will have to look to reenter. Well, now if I update the price action, where do I believe we're going to go from here? Well, this is where the first target that I had, which was spaced between 20,000 and 20.5,000, as discussed in the last update, that target was technically reached. So anyone who did enter this setup, great. But the reason why I had this area as a target is because of the imbalance off of this bullish trend that played out between September 6th and September 13th. So that was the gap that was left behind. And this also lined up between the 50% level and the 61.8. So currently I believe the price action is simply consolidating. So you have to give it some time before you have a breakout. So the last couple of days, the ranges that were created were not that large. And so what I'm imagining is if this momentum were to continue further into the downside, then first we're going to pull back towards the upper portion of this range in order to gather up more liquidity. And if anything, I think it would make sense for us to push a little bit higher first. So what I would be waiting for is to either see a liquidity grab or a tab off of this one hour wick here. That's at around 20.8, 5,000 that would line up with this one hour 50 EMA. And so if that's rejected, this is where you can look for a sell opportunity. Of course, even if you enter some type of a sell over here, you still need a quick reaction in case the price pushes down to this range and then returns back to this level. However, if we break out of this range, so we push into the bottom because this range simply represents a pause in the market. Let's recall that the most recent momentum was pretty bearish. Then at that point, what you could look for, okay. Is if we reject the upper portion of this range or this small supply zone that lines up around these moving averages, then what I would be waiting for is for the price to push all the way down to the 78.6 level. That's at around 19.4 thousand dollars. This would mark out the next demand zone that hasn't been mitigated in a couple of days. So this is the next area where you guys can look to take profit. So the markets have been quite bearish. The dollar has continued being bullish. This could be setting itself up for the FOMC report that we have in a couple of days. And if the dollar continues to rise, well then the equities market or the crypto market can continue dumping and we're still technically in a long-term bear cycle. So be cautious when it comes to that. So hopefully this helped. If it did drop a like and subscribe down below, you guys can join my public trading community as well as my telegram announcements channel and the private elite group, where I include in-depth live streams for members multiple times per week. I have additional guides and additional tutorial videos if that interests you. So thanks for watching and I'll speak to you all in the next one.