Finally, Bitcoin flips the 1H 200 EMA to support. A few bullish volume spikes show clues that retail traders may be flipping bullish. Just need more volume now.
✅1) Need to flip that 1H - 200 EMA to Support
🟡2) Volume should start increasing as retail traders take positions.
🟥3) Price needs to get to the $23,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... 🔥🚀
✅1) Need to flip that 1H - 200 EMA to Support
🟡2) Volume should start increasing as retail traders take positions.
🟥3) Price needs to get to the $23,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... 🔥🚀
Note
Correction:🟥3) Price needs to get to the $42,000 Resistance Line
Note
As bullish volume expands, this is the phase of the Wyckoff schematic where traders will look to go Long.✅1) Need to flip that 1H - 200 EMA to Support
✅2) Volume should start increasing as retail traders take positions.
🟥3) Price needs to get to the $42,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... 🔥🚀
Note
Looks like the Wyckoff Accumulation has failed... 😭Only sign of hope is the lack of increasing Bear Volume in relation to price dropping.
(Effort < Result)
Without Bullish Demand... the only chance of a reversal is a Short Squeeze by whales at $30,000...
Note
BITCOIN -- Supply and Demand ⚔ Battle Continues! 😬 Bullish volume expands at the bottom of Trading Range $32,000. (This was the "Hold the Door" moment in GOT. 🏋️♂️) In the Wyckoff schematic, this appears to be the SPRING 🐍. Bullish volume has entered... bulls escape the death trap to $20,000.✅1) Flipped 1H - 200 EMA to Support
✅2) Bullish volume increasing as retail traders take long positions.
🟥3) Price needs to get to the $42,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... 🐍🔥🚀
Admittedly, "Phase B" went on longer than I thought it could and had me faked out thinking this was a failed Wyckoff Accumulation... but the SPRING move changes this battle of Supply and Demand.
Note
BITCOIN -- Supply and Demand ⚔ Battle Is Coming to a Close! (after 25 days of agony 😓) Volume in relation to Price (Effort and Result)... have shown that Bears 🐻 had no follow-thru and the Bulls 🐂 gave clues of accumulation with increasing volume spikes. 🐍✅1) Above 1H - 200 EMA to Support
✅2) Bullish volume increasing as retail traders take long positions.
🟥3) Price needs to get to the $42,000 Resistance Line
🟥4) Reversal is only confirmed with a huge Volume Spike at Sign of Strength... 🐍🔥🚀
🤪I can't believe it's been ranging sideways for nearly a month! (25 days to be precise.) I believe Bitcoin may take the lead, while the Altcoins may lag behind and range sideways for an extended time.
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.
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.