Bitcoin / TetherUSUpdated $BTC/USDT UPDATE:
Let's take a look at BTC on the 4hr chart.
We have made an SFP (meaning we took out the liquidity on the top, but failed to close above it --> downside) and since then, we have been in a downtrend, with still no signs of reversal to come.
I'm currently looking at 2 levels (first: the nVPOC of the previous accumulation phase + second: Open Liquidity zone)
If we can take out these 2 levels, but close above them --> looking at the SUPPLY zone @43.2 - 44k
NOTE: Keep in mind that we have created 2 FVG's (see my previous post for explanation on this topic) below this, so I wouldn't be surprised to see us revisiting these zones.
Hope you find this analysis usefull!
Oli
BTC on the 4hr chart.We have made an SFP (meaning we took out the liquidity on the top, but failed to close above it --> downside) and since then, we have been in a downtrend, with still no signs of reversal to come.
I'm currently looking at 2 levels (first: the nVPOC of the previous accumulation phase + second: Open Liquidity zone)
If we can take out these 2 levels, but close above them --> looking at the SUPPLY zone @43.2 - 44k
NOTE: Keep in mind that we have created 2 FVG's (see my previous post for explanation on this topic) below this, so I wouldn't be surprised to see us revisiting these zones.
Hope you find this analysis usefull!
Oli
Note
Played out nicely!
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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.