BTC idea based on wyckoff scheme and liquidity
here are my thoughts on bitcoin for the 4h and the 1h timeframe
on the 4h you can see some high liquidity boxes where bitcoin will consolidate before making the next move. I expect a move down for bitcoin toward 42.2k at least, and then we might get a selling climax toward the previous lows caused by bearish market sentiment and with possibly bad news comming from Russia. If we tests the old lows again is what I have been thinking for this week, I think we do based on all these bearish factors. On the other had we must keep in mind that we can still push to the next liq box (around 47k) if we get enough volume on the weekend (unlikely).
This being told I am hoping to short bitcoin based on the final steps of the wyckoff scheme: distribution is going for a retest; volume is rising; and markdown will follow. My idea, entry, stop loss and take profits levels are being given in the chart. We only need to wait for the conformation of the retest, so dont put in the orders yet!
on the 4h you can see some high liquidity boxes where bitcoin will consolidate before making the next move. I expect a move down for bitcoin toward 42.2k at least, and then we might get a selling climax toward the previous lows caused by bearish market sentiment and with possibly bad news comming from Russia. If we tests the old lows again is what I have been thinking for this week, I think we do based on all these bearish factors. On the other had we must keep in mind that we can still push to the next liq box (around 47k) if we get enough volume on the weekend (unlikely).
This being told I am hoping to short bitcoin based on the final steps of the wyckoff scheme: distribution is going for a retest; volume is rising; and markdown will follow. My idea, entry, stop loss and take profits levels are being given in the chart. We only need to wait for the conformation of the retest, so dont put in the orders yet!
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