BTC Price Discovery Zone - What is next?
Updated
Bitcoin has reached a new all time high and has gone past it by 3800$.
The huge buy orders by institutions and the new price discovery zone pushed the price far past 21k of my previous analysis.
This created an msb in the wyckoff pattern as normally it is meant to stop off at the top bearish, however, I was blindsighting that it is an ath zone.
I am still learning and improving and that is part of the process in becoming a consistent trader.
I do not advise you take everything I say at face value, but minify the sources of your intake and come to your own trading decisions and conclusions.
The 20k is a level which will act as a support for the price, so I am expecting a retouch. IMO though, this new price zone is uncharted territory.
I would watch candle formations and reactions to topside, and also bear to bull dip pushbacks for any trading entries.
I wish you the best.
The huge buy orders by institutions and the new price discovery zone pushed the price far past 21k of my previous analysis.
This created an msb in the wyckoff pattern as normally it is meant to stop off at the top bearish, however, I was blindsighting that it is an ath zone.
I am still learning and improving and that is part of the process in becoming a consistent trader.
I do not advise you take everything I say at face value, but minify the sources of your intake and come to your own trading decisions and conclusions.
The 20k is a level which will act as a support for the price, so I am expecting a retouch. IMO though, this new price zone is uncharted territory.
I would watch candle formations and reactions to topside, and also bear to bull dip pushbacks for any trading entries.
I wish you the best.
Note
No entries here.. (Wait for any touch of trend)
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.