$BTC (Bitcoin) - 15min Analysis
Updated
BTC 👀 – 07/27/2022 #Outlook + #MarketRecap - 📸 🚨 📌 Since my first post yesterday, #bitcoin (“price”) did the following:
1) 🎯 Price took out the sitting #liquidity (relatively #equalhighs),
2) 🎯 Price cleared up the previously #imbalance in price action (too many #sellorders and not enough #buyorders to balance the #orderbook), and
3) 🎯 Price almost done completing the #Micro #corrective #wave 4 (in purple).
📌 In my opinion, I believe the #Minuscule #impulse #wave 5 (in black), of the #Micro corrective wave 4, will complete somewhere within the #institutional #PointOfInterest zone (“Hedging Mitigation”).
📌 Thinking from the #lens of #smartmoney, I would want to either A) #breakeven or B) #obtain a slight profit on the previous #buyorders hedged (on July 25, ’22) right before the market #massively sold off (due to huge influx of #sellorders).
📌 Pro Tip: An easy way to spot possible areas in the market that are likely to be revisited, such as institutional (hedging) mitigation areas, is to look for #ABC #irregular / #expanded #Flat corrections or other instances where price took out relatively equal highs or equal lows before fiercely moving in the opposite direction.
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⚠️ This is not investment or financial advice; Anytime you enter the #markets, you fully accept the #implications at your own risk❗️
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Order cancelled
Price action invalidated the idea of an extended corrective B. We are now in the corrective wave C.
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