What does Bitcoin has under its sleeve? Crucial time
Hi all,
We have been in this range for over 2 months. One can argue this is the top just based on Weekly chart pattern, however we are yet to see a sign of weakness on the Daily TF.
I have 2 scenarios as we are approaching high supply region PA trying to reclaim the most crucial level (Weekly Supply Down bar) as markec and on the Daily a potential to tap 60200 region before an interim correction.
I am getting prepared to long in the two regions as marked above - 50k-52k lvl is an interim buyers interest due to the demand zone and quite simply 0.618 Fibs. This doesnt neccessarily mean its bullish, I would like the PA to pierce through 60k (Weekly Supply zone)
The other scenario indicates a major sign of weakness, near 42k-44k. This swing will be another opp towards 58k region, rejection here on the daily (red arrow) will be a final confirmation as the top for the cycle.
Cheers and Happy trading!
We have been in this range for over 2 months. One can argue this is the top just based on Weekly chart pattern, however we are yet to see a sign of weakness on the Daily TF.
I have 2 scenarios as we are approaching high supply region PA trying to reclaim the most crucial level (Weekly Supply Down bar) as markec and on the Daily a potential to tap 60200 region before an interim correction.
I am getting prepared to long in the two regions as marked above - 50k-52k lvl is an interim buyers interest due to the demand zone and quite simply 0.618 Fibs. This doesnt neccessarily mean its bullish, I would like the PA to pierce through 60k (Weekly Supply zone)
The other scenario indicates a major sign of weakness, near 42k-44k. This swing will be another opp towards 58k region, rejection here on the daily (red arrow) will be a final confirmation as the top for the cycle.
Cheers and Happy trading!
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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.