Greater Value Area Acceptance on BTC
Aside from forming a pretty solid ascending triangle, BTC seems to have also found acceptance into the shown previous value are, where a lot of consolidation happened with in this range. Typically when PA finds acceptance into a value area, it likes to make a complete move to the other side oof said range. Currently testing the POC of the range, failure to break here and find support above the level could lead to a pull back down to the VAL again
Note
PA has made a solid break of the POC, in doing so has created an H4 FVG right around the POC of the range. PA could potentially see a pull back to fill FVG before continuing upward momentum. Watching for a reaction at the 3Daily level above, expecting resistance of some sort.Note
PA blasted through the 3Daily level, nailing Target 2 at the VAH of the range.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.