Is BTC Ending Correction????
BTC is approaching a Weekly Order Block at 19.5K
At the same time, it seems to have completed a bullish cypher pattern at the 1W chart
Down to the 1D chart, it seems to have completed an AB=CD pattern as well with the strong bullish pinbar, signifying to me
that the bulls are starting to takeover the market.
While at the 4H chart, a demand zone is being respected, with the Bear candles seems to be weakening.
This confluences is an indication for me to start looking for buys.
But will have to wait if the demand zone holds or at least the price fails to get into the 19K zone.
If in case the Weekly OB is breached then, either that is a liquidity grab and price is expected to shoot back up or price is reaching for its Monthly OB at 12k, which is highly unlikely
but still probable if it is indeed a deep deep correction.
At the same time, it seems to have completed a bullish cypher pattern at the 1W chart
Down to the 1D chart, it seems to have completed an AB=CD pattern as well with the strong bullish pinbar, signifying to me
that the bulls are starting to takeover the market.
While at the 4H chart, a demand zone is being respected, with the Bear candles seems to be weakening.
This confluences is an indication for me to start looking for buys.
But will have to wait if the demand zone holds or at least the price fails to get into the 19K zone.
If in case the Weekly OB is breached then, either that is a liquidity grab and price is expected to shoot back up or price is reaching for its Monthly OB at 12k, which is highly unlikely
but still probable if it is indeed a deep deep correction.
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