The volume profile on the left tells the primary story. There is a dominant High Volume Node (HVN) clustered between $73,000-$74,500 (the olive/dark band), representing the heaviest institutional footprint on this timeframe.
#EGLD has broken out of a falling wedge pattern 4 and is currently consolidating near the 4.011 level. This breakout is supported by increasing volume. suggesting strong bullish momentum. The next target for #EGLD is around the 4.500 level.
The volume profile on the left tells the primary story. There is a dominant High Volume Node (HVN) clustered between $73,000-$74,500 (the olive/dark band), representing the heaviest institutional footprint on this timeframe.
On the news side, the crypto market is lacking major catalysts, no new ETFs, no sudden inflows, and no events on the scale of a halving and because of that, BTC's current recovery is driven more by technical factors than by news.
This week, the market has provided enough support for Bitcoin to recover, but not enough of a catalyst for a true breakout. The Fed's 0.25% rate cut continues to favor risk assets, yet investors remain cautious ahead of the December 16 Nonfarm Payrolls report. If labor data weakens, expectations for further rate cuts will rise a direct tailwind for BTC On the other hand, an overly strong report could trigger selling near dynamic resistance zones such as the EMA34.