- Admittedly, I got tricked by the Whales as price exited Trading Range with strong Bear Volume.
- A Test of Supply occurred below the Trading Range on low volume (no more Long stops to liquidate).
- Price advancing back into Trading Range on high Bull Volume confirms successful test and Spring Phase.
- 🚨 A break below Last Point of Support $9,350-ish will invalidate this analysis!!
Trade closed manually
Top of ChannelNote
Ideally, Bitcoin may consolidate under the Fib 0.618 before the next leg up.Some weak bearish Divergence on the Daily... but not too concerned about that since RSI peaks are level and peaks are not sloping down.
A drop back to the midline of the Pitchfork is 5%-ish
Related publications
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.
Related publications
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.