Sunday Updates - A Corrective Week
Mis à jour
Today I'm not going to come up with a long post, just because I don't feel it's needed. As I just said, BTC touched 45k before retracing down to 42k, and trend seems to be weakening. We still haven't touched our yearly VWAP (the one that I mentioned in my previous post too) so I think next week's price action won't be anything but just a consolidation of current price (40-43k).
If this happens, I would expect a bullish breakout by the end of the week and expect a higher high.
If we break below 40k, I would expect to see a strong rejection from around 38k and then go back above the yearly VWAP.
If this happens, I would expect a bullish breakout by the end of the week and expect a higher high.
If we break below 40k, I would expect to see a strong rejection from around 38k and then go back above the yearly VWAP.
Note
As you see, we clearly broke the low volume node I drew on the chart. I’ll post an update later to explain why a bullish case scenario would bring us to 46-47k. Stay tuned!Note
And we broke below 40k.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.