since now USDT is not compliant, lets go with BTC/USDC"All past movements" means that the last bullish or bearish trends are over, from 2020 till the past November run-up.
The price must be retraced before reaching the new targets, and the liquidity left behind must be recovered. There are too many signs to suggest selling rather than buying. Any bullish movement won't be strong enough to bring the price over the last ATH and create a new BOS, which would be significant for the long position analysis.
From a fundamental perspective, the new taxes and norms in action this 31st December led the small investors to wait for the end of the year before investing. The Institutional investors, on the other hand, will wait for the price to drop before buying, and at this point, they will also wait for the year's closure to purchase new coins since the balances must be generally closed by that time.
This is the fact, as a 5-year trader, the BCT volatility index is getting closer to the normal % every month.
Thus, the price must follow a few new rules.
We are still waiting for the big bullish shot post-halving, which has not arrived yet, even if the 100K were a high psychological winning, the rally is not over yet.
There are millions of liquidations waiting for around 93K. If the price goes around 91K, it is more likely to drop rapidly to 81K-78K.
Will it drop? If we're lucky, yes. Just enough to create a correction, probably a new pennant as chart shape and price action pattern
So, it's better to have solid growth with slower growth. In the past time, we have seen even more range situations where the price was somehow consolidating itself (a bit for the institutional action, a bit for fundamental reasons). We don't need to care about why but about what we are doing. The volatility and rapid response that BTC gave are now over. We have a more solid asset that is not a pure speculative coin as before, but it has created a new market and economic system.
124000$ new target
81000$ strong support and liquidation spot
78500$ significant for technical analysis but now actually relevant to the liquid one
71000$ last retracement level and resistance
If we reach 71K, the bullish will be sharp. The drawdown will create a good buying situation and will lead to higher volumes and capital to reach the next target.
