lots of confluence to favor lower prices... however PA of time says other wise. btc is sitting at the top of the last high volume node before 27k
if tues & weds data is positive it will set the narrative for a trend reversal.
For sure it's going down... call it exhaustion, cogestion,, or whatever floats your boat. Next stop rektbull USA.
Path of least resistance eh? 1. 5K till 30k (fomo commitment before shake out) 2. 8k from recent local lows (commitment already grabbed start of correction has begun)
1 chance 33% probability... will some type of wyckoff accumulation occur just in ime for the U.S. mid-term elections
A break belpw NY session this week will likely lead price to $25k range weekly Daily 4hr
Sunday run for higher prices (long trap) or 30k reversal setup to trap shorts Either way Monday false move will probably be in effect.
If Friday NY session is as muted as today expect wknd as setup for major move looking for the Asian session to plunge price lower while creating a hidden bullish div on the rsi implying continuation is highly likely Stop-hunt rise reclaiming yesterday opening range followed by sideways wknd action. Daily 4hr 1hr
As expected BTC has Made the move from the previous idea. This narrative should finish out over the wknd. If not expect a hopium push folloed by a whipsaw move closing out this month.
There are only 2 options up or down. i advise looking at the 5th of may to avoid moonboy error. Watch the speed at which retail flips bullish... slow trent true trend
Why i love the wknds... insane movement with ZERO big players
Start layering your shorts or taking profits if you are long still a crazy amount of vol on the hourly
Daily open in sight... If they take it with speed expect 26k real soon / if not then slow trend true trend Weeks ahead setting up for decent range
4hr divergence played out in previous post. BTC either returns to the psy lo this wknd or fades back to 23k
Looking to come up into the Psy lo area before next explosive move Stil inline with previous thought below