BITCOIN Bearish Divergance - Back to 20k soon?
Updated
As part of the wyckoff higher highs, we have seen a sustained playout at this level, with it reaching up to around 24k.
There has been a huge amount of liquidity coming into the market and in doing so, it has made the past week have an increase of 25%.
There is an interesting divergence at the top of this higher high in the wyckoff pattern, and volume has also been decreasing since the entry to this range.
The underlying uptrend and 15m 200ema supporting the price is an area of interest, and and entry is possible when it breaks and fails a retest.
24-24.3k seems to be a bearish OB, but if price keeps returning there is a chance for an upside break, however this RSI divergence makes it not seem likely.
I expect 22.4k to be a valid support and 20k to be a major support.
I appreciate follows :D
There has been a huge amount of liquidity coming into the market and in doing so, it has made the past week have an increase of 25%.
There is an interesting divergence at the top of this higher high in the wyckoff pattern, and volume has also been decreasing since the entry to this range.
The underlying uptrend and 15m 200ema supporting the price is an area of interest, and and entry is possible when it breaks and fails a retest.
24-24.3k seems to be a bearish OB, but if price keeps returning there is a chance for an upside break, however this RSI divergence makes it not seem likely.
I expect 22.4k to be a valid support and 20k to be a major support.
I appreciate follows :D
Note
Big volumes ;)Note
22.4k looks very valid :DNote
DXY is inversing BTCNote
22.6-22.4k is confluent support
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