Two days of rest were enough for buyers to launch a new local attack of the historical high. In the previous article, we indicated the critical range of $26,400-$26,600 as the local foundation for the test of $30,000. Since the last analysis, sellers have twice tried to break this range. However, each attempt ended in a false breakout, emphasizing the weakness of sellers. Thus, the BTC chart shows that in this range a good liquidity zone has been formed. Buyers can count on it in the event of sharp counterattacks by sellers. New Historical High of $28,598 Today, 30 December, buyers were able to update the local high and faced little resistance. In this case, the liquidity zone of $27,700-$27,900 was helpful. It showed the willingness of buyers not only to update the highs but also to keep the price. For 4 hours, sellers were unable to lower the price below this range to continue consolidation in the BTC market. Therefore, buyers have all the prerequisites to continue to increase prices to our target. The Sluggish BTC Growth Continuation May Provoke Its Correction An interesting situation happened in a 4-hour timeframe: As we can see, the new wave of growth has led to an increase in trading volumes, which indicates a healthy trend continuation. Though, the trend line that keeps the current wave of growth from 24 December is too common with the price recently. To avoid the beginning of a sharp correction and re-test of the range of $26,400-$26,700 buyers need to continue the rapid growth. Otherwise, a gradual BTC price growth will indicate a depletion of the growth trend and a change in the balance of power in the BTC market. BTC dominance in the crypto market continues to increase, absorbing all volumes of investors: In this price range sellers are weak. Let’s see if the situation will change above the historical high.
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