The reason I have Gold next to this is not to show that these pairs move similar, it's to show the setup model we have appearing.
This market model appears quite frequently in all markets.
The idea here is that Cosmos just pulled some weekly and daily lows, and reversed bullish after purging them.
Smart money possibly bought those lows....So where do they want to take price?
I think price will be attracted upward for multiple reasons.
-We have an imbalance
-We still have fresh liquidity sitting above the most recent swing high
-We have more fresh liquidity sitting above the equal highs as well
-We have an untested point of control (green line) and that $8 range was an area where a lot of dealing was done. More dealing = more commissions for brokers.
The move may happen very quickly. It also may test that bottom buy zone. We shall see. Don't expect it to "copy" gold.
But the recipe for a bull run is in the making.
A Bullish BTC will help of course.
Crypto isn't my main market so I'll be watching lightly.
This market model appears quite frequently in all markets.
The idea here is that Cosmos just pulled some weekly and daily lows, and reversed bullish after purging them.
Smart money possibly bought those lows....So where do they want to take price?
I think price will be attracted upward for multiple reasons.
-We have an imbalance
-We still have fresh liquidity sitting above the most recent swing high
-We have more fresh liquidity sitting above the equal highs as well
-We have an untested point of control (green line) and that $8 range was an area where a lot of dealing was done. More dealing = more commissions for brokers.
The move may happen very quickly. It also may test that bottom buy zone. We shall see. Don't expect it to "copy" gold.
But the recipe for a bull run is in the making.
A Bullish BTC will help of course.
Crypto isn't my main market so I'll be watching lightly.
