Hi All,
Just sharing some knowledge about this current structure.
This lines up perfect with the wyckoff accumulation and re-accumulation structures.
One is a reversal and the other is a continuation formation.
At this point, we cannot know.
Hence why this is the difficult stage. for BTC.
Double top or 618 rejection area (pretty much the same as Dtop).
Note the neckline is critical level to get out.
If we lose this, we are headed to 15k
What is next?
Next week will determine the whole market direction with the likes of tech companies reporting profits\losses and the QE FED CPI meet.
2 targets based on how you apply the fibonacci and one equates to double top.
The other, 25k as the next target.
All the best,
S.SAri
Just sharing some knowledge about this current structure.
This lines up perfect with the wyckoff accumulation and re-accumulation structures.
One is a reversal and the other is a continuation formation.
At this point, we cannot know.
Hence why this is the difficult stage. for BTC.
Double top or 618 rejection area (pretty much the same as Dtop).
Note the neckline is critical level to get out.
If we lose this, we are headed to 15k
What is next?
Next week will determine the whole market direction with the likes of tech companies reporting profits\losses and the QE FED CPI meet.
2 targets based on how you apply the fibonacci and one equates to double top.
The other, 25k as the next target.
All the best,
S.SAri
Note
Trade active
Note
Trade closed: target reached
in our Telegram group, I did change my mind about the potential support at the 618 fib level, which worked out well for a bullish bounce,Still below the resistance TL
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
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.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
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.