The trader said whether bitcoin would reach the $20,000 mark in the near future

VSA and Price Action

In the context of Volume Spread Analysis, the price of bitcoin is locked in a range with the price level at $19,564. Judging by the buyer’s reaction, there is aggression. A false breakout with the withdrawal of liquidity should not cause concern — this is a standard price movement for activating stops.

There is a compression to the water level with a weak reaction from the horizontal. Volumes similarly decrease when approaching the level, which further confirms the high probability of its breakdown.

At $19,950, the EQH is a magnet for the price. Therefore, we are likely to see the $20,000 mark soon. The base’s breakdown will be carried out similarly to the top, followed by the termination of the entire accumulated volume.

VSA and Price Action

Analysis of the horizontal and Delta

The resulting EQH is formed by filling limit orders, so at the moment, they are a serious resistance [1]. The POC of the unloading balance was also actively held by serious sell limits [2]. This gives every reason to believe that these levels contain many stops, which will create a “free” move up to $20,000.

 

At the moment, the protection of weighted average weekly volumes is formed, from which growth can begin today. This will push the price into an even narrower range and create a triangle with a preload to a breakout level [3]. Significant support has been formed at the bottom.

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