Bitcoin's journey to $25k is back on track, the first Order Block (obstacle) has been broken, and one more to go

over 2 years ago

Bitcoin's journey to $25k was never going to be an easy one as we have seen in the last five days when it was first pumping like it is doing right now when it went from $19k to $21k within a matter of minutes but when it got to $21k the first obstacle slowed down the moment which Bitcoin was pumping and its price at that point, the obstacle that slowed down the price of Bitcoin is the first order block between $21k and $25k, which recently got broken after five (5) days of indecision as Bitcoin was creating different indecision/reversal candles like Doji, spinning top, hanging man and shooting star.

But there was no confirmation candle that there was going to be a reversal downward within the past few days, which is why I like following what price action is showing me and not reacting to every dip or correction the market is having and then from a bias like some people did thinking that price was heading for new lows as a lot of people were posting online and in different crypto, platforms am in.

As of a few hours ago bitcoin pumped hard and broke the first order block obstacle with a huge marabuzo candle that was still forming at the time it broke through the first order block but it just closed a few minutes or hours ago depending on when you are reading this post, the marabuzo candle that just formed on the daily timeframe for the Bitcoin chart indicates that the current Bitcoin pump pressure or momentum is strong or high but it has hit the second order block obstacle between $21k and $25k, let us see how the Bitcoin pump pressure or momentum will hold up.

Now, no one knows yet what will be the outcome of the Bitcoin price hitting this second-order block whether it will break it like it just did the first one or it will get rejected either way I will be following what price action shows me, how the current bitcoin pump handles the second order block will determine if Bitcoin will head for $25k or back to $20k or $21k, for now, I will hold my comment and watch the Bitcoin chart closely to decide and determine my next course of action. I do not rush in so I do rush out with the same energy and some loss which is why I take my time to do my analysis first before placing any trade.