WHY BTC IS NOT DONE YET!!! A MUST READ****
Updated
Not a click bait, I will give solid reasons why BTC is not done yet and where to look for before you give up the Bullz. Using 2W Time frame.
1. With the price action disrespecting the Bearish Fair Value Gap (2W B-FVG)
from the last high in 2021 and a somewhat strong rejection from this level after retesting though the candle is yet to close. This is the first indication that the price is not yet done; this might also be a healthy Pullback. A violation or a close below this bearish FVG will trigger a sell off only then we can confirm a sell off. The price is good so far we are above this FVG
2. The historical data proves that BTC takes a sort of liquidity before a major sell off or a major buy. before the major sell off in Nov 2021 that started the bearish trend, the price had to take the liquidity from the previous high in April 2021. also liquidation proceeds the bullish trend that started Nov 2022 all presented in the chat.
Unlike the most recent rally, instead of liquidation, the price action created a liquidity of equal highs in almost every time frame, which is a very good price draw. Hence the recent high is more of a liquidity and far from liquidation which shows price might in the future come to take these highs.
3. The third reason is that price had just taken the internal liquidity and a close above this internal liquidity shows price action not done yet.
In summary,
With the price closing above the 2021 FVG and now retesting with a wick and liquidity above the recent high shows, the bulls are not done yet also we have not lost the Trendline from Sept 2023. Only a close below this FVG can confirm the bears which will also break the long term Trendline. until then the Bulls are still lurking waiting in ambush.
Please do your research!!!!
Good Luck!!!!
1. With the price action disrespecting the Bearish Fair Value Gap (2W B-FVG)
from the last high in 2021 and a somewhat strong rejection from this level after retesting though the candle is yet to close. This is the first indication that the price is not yet done; this might also be a healthy Pullback. A violation or a close below this bearish FVG will trigger a sell off only then we can confirm a sell off. The price is good so far we are above this FVG
2. The historical data proves that BTC takes a sort of liquidity before a major sell off or a major buy. before the major sell off in Nov 2021 that started the bearish trend, the price had to take the liquidity from the previous high in April 2021. also liquidation proceeds the bullish trend that started Nov 2022 all presented in the chat.
Unlike the most recent rally, instead of liquidation, the price action created a liquidity of equal highs in almost every time frame, which is a very good price draw. Hence the recent high is more of a liquidity and far from liquidation which shows price might in the future come to take these highs.
3. The third reason is that price had just taken the internal liquidity and a close above this internal liquidity shows price action not done yet.
In summary,
With the price closing above the 2021 FVG and now retesting with a wick and liquidity above the recent high shows, the bulls are not done yet also we have not lost the Trendline from Sept 2023. Only a close below this FVG can confirm the bears which will also break the long term Trendline. until then the Bulls are still lurking waiting in ambush.
Please do your research!!!!
Good Luck!!!!
Trade active
Trendline and Sell Side Liquidity taken...TP IncommingTrade active
Like predicted, BTC wasn't done yet!A new high is Imminent!
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