Technical analysis by Zjien13 about Symbol BTC on 1/3/2024

There is still bullish price action on the daily chart unless the $40230 level is lost. On the 1-hour chart, the market direction is bearish. In the previous chart, I said that the price would rise above $43850 and go to $46000. I'm adding the previous chart to the description. First, it was rejected at $43850, left equal high there, and then did not close below the middle of the range, but found support in the optimal trade entry zone and was priced up to $46000 over this zone. Coming to the question of what will happen now, the market will be shaped according to the ETF news. Within the daily price movement, the 1-hour chart is actually included in the internal market structure. By following the order flow in this way, transactions in the direction of the trend will be healthier. I think the price will move horizontally for a while in the red box, because there is no liquidity left on the 1-hour chart that I can see at the moment. I think that by creating liquidity in this box and acting according to that liquidity again, the trend direction will be determined in the short medium term (3-4 months) with the ETF news. Additionally, I do not include the wicks of large wick candles in the 1 hour period. Instead, I base it on the swing created after this wick candle arrived.