Bitcoin Pulse
Bitcoin (BTC) experienced a minor pullback on Wednesday after two weeks of bullish action but quickly recovered. Tesla’s 2022 Q4 report revealed that the company did not sell any of its Bitcoin holdings during Q4’s market crash. This led many in the crypto community to believe that the lack of sell side action on the part of Tesla stems from its commitment to cryptocurrencies.

• A strong January rally has Bitcoin posting over 38% in gains since the first of the month.
• BTC has now established support in the $23,000 price range.
• $1.48B in Bitcoin options is set to expire today (January 27th).

BTC - Low Timeframe
TL/DR:

• LTFs show accumulation candles at higher resolution, indicating sideways price action before aggressive reaction to HTF order block.
• If bulls take over, moves may start from extreme discount of daily range.
• If HTFs push prices lower, 1D sell-side liquidity may be filled, fair value gap in 1H may be mitigated, and bullish order blocks at $21,600 price level may be mitigated.
• Break and retest of 50 EMA may signal this scenario is unfolding.

On the LTFs, we're able to see the HTF accumulation candles at a higher resolution, which shows us the sideways price action that formed before price mitigated the HTF order block and reacted to it aggressively.

We would assume that given price has reached the extreme discount of the daily range, if bulls are to take over the moves would start from these price points.

Alternatively, if the HTFs are to push prices lower, then a run on 1D sell-side liquidity, filling of the 1H fair value gap, and mitigation of bullish order blocks at the $21600 price level, would make logical sense. A break and retest of the 50 EMA could be a prime signal that this scenario is unfolding.

BTC - Macro View
TL/DR:

• BTC/USD has been on a bullish trajectory but with slowing volatility as sell orders match buying pressure.
• Accumulative price action seen as buyers and sellers go head-to-head.
• Price has not reached the extreme bearish order block, closed all daily fair value gaps, sustained above the daily 200 EMA, or reached deep premium prices.
• Anticipation of a retracement starting from $23,700-25,000 price points, with support at the daily 50 EMA and bullish order blocks in discount.
• Possibility of an aggressive break above $25,200 signaling a HTF bullish run.

BTC/USD continued its bullish trajectory this week, albeit with volatility starting to slow as sell orders start to match buying pressure.

As price continued to move bullishly toward the extreme of the monthly range, we started to see more accumulative price action as buyers and sellers went head-to-head. Price has not:

• Reached the extreme bearish order block
• Closed all daily fair value gaps within this range
• Aggressively sustained above the daily 200 EMA
• Reached deep premium prices

Given the aggressive momentum in the first few weeks of 2023, we anticipate a retracement starting from the $23,700-25,000 price points. We would look for price to retrace at minimum to the equilibrium of the bullish move, finding support at the daily 50 EMA and bullish order blocks in discount.

Alternatively, if the bullish momentum is a signal that the HTFs are starting their bullish runs, an aggressive break above the $25,200 price level could likely signal this moving forward.

Altcoins on the Move
Layer 1 Aptos (APT) shot up over 124% after Binance tweeted about its recent developments. including two new liquidity pools on the exchange (APT/BTC and APT/USDT), and a world tour. Ethereum (ETH) resisted sell pressure despite Justin Sun removing $15.5 million in ETH out of his wallet and into Poloniex.

• Polkadot (DOT) showed strong performance over the 7-day with 10% in gains as it announced major milestones. Just two months after its launch of nomination pools, $1 million DOT tokens have been bonded. Polkadot also just announced it is morphing DOT into a non-security token.
• Transaction volumes dropped on Optimism’s Layer-2 scaling solution, marking the end of its “learn-to-earn” incentive program. But OP managed to rise with most altcoins and hit an all-time high on the 22nd.
• The native token for Conflux (CFX) spiked spectacularly, surging over 170% after announcing its integration with China’s version of Instagram, Little Red Book.

Ethereum Macro

TL/DR:

• ETH/USD had a short-term retracement and found support at the daily 200 EMA.
• Expect price to initiate a healthy retracement before continuing to the upside if bullish sentiment takes hold.
• Target bullish value zones: daily 50 EMA support, filling of daily fair value gap, mitigation of bullish order block in discount, reaching discounted prices.
• Expect new buying pressure when retracement reaches this zone.
• If bullish sentiment takes over from a macro perspective, price could push higher and target $1700-2000 before aggressive retracements take hold.

As expected, ETH/USD had a short-term retracement, finding support at the daily 200 EMA after running the daily range high, triggering daily buy-side liquidity.

Similarly to BTC, it would make sense for price to initiate a healthy retracement before continuing to the upside if the bullish sentiment is to take hold. We would expect this retracement to target bullish value zones, which would consist of:

• Daily 50 EMA support
• Filling of the daily fair value gap
• Mitigation of the bullish order block in discount
• Reaching discounted prices

Upon reaching this zone, we would expect our retracement to meet new buying pressure.

Alternatively, if the bullish sentiment is taking over from a macro perspective, we could see price aggressively push higher now that it has strongly sustained above the 200 EMA and target the $1700-2000 price level before we see aggressive retracements take hold.

‍

Bitcoin Pulse
Bitcoin (BTC) experienced a minor pullback on Wednesday after two weeks of bullish action but quickly recovered. Tesla’s 2022 Q4 report revealed that the company did not sell any of its Bitcoin holdings during Q4’s market crash. This led many in the crypto community to believe that the lack of sell side action on the part of Tesla stems from its commitment to cryptocurrencies.

• A strong January rally has Bitcoin posting over 38% in gains since the first of the month.
• BTC has now established support in the $23,000 price range.
• $1.48B in Bitcoin options is set to expire today (January 27th).

BTC - Low Timeframe
TL/DR:

• LTFs show accumulation candles at higher resolution, indicating sideways price action before aggressive reaction to HTF order block.
• If bulls take over, moves may start from extreme discount of daily range.
• If HTFs push prices lower, 1D sell-side liquidity may be filled, fair value gap in 1H may be mitigated, and bullish order blocks at $21,600 price level may be mitigated.
• Break and retest of 50 EMA may signal this scenario is unfolding.

On the LTFs, we're able to see the HTF accumulation candles at a higher resolution, which shows us the sideways price action that formed before price mitigated the HTF order block and reacted to it aggressively.

We would assume that given price has reached the extreme discount of the daily range, if bulls are to take over the moves would start from these price points.

Alternatively, if the HTFs are to push prices lower, then a run on 1D sell-side liquidity, filling of the 1H fair value gap, and mitigation of bullish order blocks at the $21600 price level, would make logical sense. A break and retest of the 50 EMA could be a prime signal that this scenario is unfolding.

BTC - Macro View
TL/DR:

• BTC/USD has been on a bullish trajectory but with slowing volatility as sell orders match buying pressure.
• Accumulative price action seen as buyers and sellers go head-to-head.
• Price has not reached the extreme bearish order block, closed all daily fair value gaps, sustained above the daily 200 EMA, or reached deep premium prices.
• Anticipation of a retracement starting from $23,700-25,000 price points, with support at the daily 50 EMA and bullish order blocks in discount.
• Possibility of an aggressive break above $25,200 signaling a HTF bullish run.

BTC/USD continued its bullish trajectory this week, albeit with volatility starting to slow as sell orders start to match buying pressure.

As price continued to move bullishly toward the extreme of the monthly range, we started to see more accumulative price action as buyers and sellers went head-to-head. Price has not:

• Reached the extreme bearish order block
• Closed all daily fair value gaps within this range
• Aggressively sustained above the daily 200 EMA
• Reached deep premium prices

Given the aggressive momentum in the first few weeks of 2023, we anticipate a retracement starting from the $23,700-25,000 price points. We would look for price to retrace at minimum to the equilibrium of the bullish move, finding support at the daily 50 EMA and bullish order blocks in discount.

Alternatively, if the bullish momentum is a signal that the HTFs are starting their bullish runs, an aggressive break above the $25,200 price level could likely signal this moving forward.

Altcoins on the Move
Layer 1 Aptos (APT) shot up over 124% after Binance tweeted about its recent developments. including two new liquidity pools on the exchange (APT/BTC and APT/USDT), and a world tour. Ethereum (ETH) resisted sell pressure despite Justin Sun removing $15.5 million in ETH out of his wallet and into Poloniex.

• Polkadot (DOT) showed strong performance over the 7-day with 10% in gains as it announced major milestones. Just two months after its launch of nomination pools, $1 million DOT tokens have been bonded. Polkadot also just announced it is morphing DOT into a non-security token.
• Transaction volumes dropped on Optimism’s Layer-2 scaling solution, marking the end of its “learn-to-earn” incentive program. But OP managed to rise with most altcoins and hit an all-time high on the 22nd.
• The native token for Conflux (CFX) spiked spectacularly, surging over 170% after announcing its integration with China’s version of Instagram, Little Red Book.

Ethereum Macro

TL/DR:

• ETH/USD had a short-term retracement and found support at the daily 200 EMA.
• Expect price to initiate a healthy retracement before continuing to the upside if bullish sentiment takes hold.
• Target bullish value zones: daily 50 EMA support, filling of daily fair value gap, mitigation of bullish order block in discount, reaching discounted prices.
• Expect new buying pressure when retracement reaches this zone.
• If bullish sentiment takes over from a macro perspective, price could push higher and target $1700-2000 before aggressive retracements take hold.

As expected, ETH/USD had a short-term retracement, finding support at the daily 200 EMA after running the daily range high, triggering daily buy-side liquidity.

Similarly to BTC, it would make sense for price to initiate a healthy retracement before continuing to the upside if the bullish sentiment is to take hold. We would expect this retracement to target bullish value zones, which would consist of:

• Daily 50 EMA support
• Filling of the daily fair value gap
• Mitigation of the bullish order block in discount
• Reaching discounted prices

Upon reaching this zone, we would expect our retracement to meet new buying pressure.

Alternatively, if the bullish sentiment is taking over from a macro perspective, we could see price aggressively push higher now that it has strongly sustained above the 200 EMA and target the $1700-2000 price level before we see aggressive retracements take hold.

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