XBTUSD Remains in Accumulation If....
Updated
XBT broke the low deviation area of the accumulation range and bounced off the monthly support earlier than anticipated. If XBT daily closes above 9k, it remains in a state of accumulation. Will long the support upon daily closure if this is the case. If unable to maintain 9k, shorting.
Note
Forgot to mention targets. After a failed Accumulation upon a subsequent reentry of the area low, the target becomes the area high which is around 9340. I will be keeping a close eye on price action. I do believe a great short opportunity is near
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.