-liquidity pools at white lines
-triangle formation atop fast move up
-gan fan from recent move and one dating back to Nov '22 coincide
-lost support of 50ma on 12h tf
conclusion: before any significant move upward,
i think that bitcoin will first reclaim liquidity around
the 97,700-99,988k zone. if support lost there, next zone below would be ~90,225k. this could either be a deswelling of momentum into a further drop, or a compression event, indicative of a rapid, significant move, possibly beyond current ATH ranging up to 181,678 thousand dollars or there abouts.
Im building a position broken up into many parts to wait out this long grind we have ahead of us.
Trade active
With an eventful week ahead, the future of bitcoin is unclear. Apparent, however, is a current downtrend toward the 90.225k mark. The weekend will provide clarity.
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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.