BTC has seen a great deal of sell pressure since the idea that institutions were to instate and approve ETF's. Which in essence is a dilution of BTC, it is not a factor that the original creator, named 'Satashi Nakamoto', had in mind.
However beyond the greed of each corporation and institution, lies the belly of the beast. They want as many BTC as they can get.
Here we have a rejection VECTOR candle engulfing to the left, as well as ranging interest at the 26k level area - with NEWS events as such about GREYSCALE - ETF approval and then delays. Naturally these are liquidity traps, and the game is now to spot the capitulation zone.
However this idea proposed very simply, if we hold the area above here, we will see a leading charge up to the 28,400.00 levels. Not only to retest the imbalance and supply, but to utilise the mass amount of PERMA BEAR liquidity that we have.
Expect however turbulence and to modify your leverage and spread size, based on the turbulence that will naturally be presented.
However beyond the greed of each corporation and institution, lies the belly of the beast. They want as many BTC as they can get.
Here we have a rejection VECTOR candle engulfing to the left, as well as ranging interest at the 26k level area - with NEWS events as such about GREYSCALE - ETF approval and then delays. Naturally these are liquidity traps, and the game is now to spot the capitulation zone.
However this idea proposed very simply, if we hold the area above here, we will see a leading charge up to the 28,400.00 levels. Not only to retest the imbalance and supply, but to utilise the mass amount of PERMA BEAR liquidity that we have.
Expect however turbulence and to modify your leverage and spread size, based on the turbulence that will naturally be presented.
Note
Following on from here, we have had an increase in total volume - the support sector of 26,600.00 is of prime importance.Aspects in indicators such as KDJ Bands - as well as the following indicators show a clear consolidation and pressure buy zone.
Note
Bull sentiment has not worked well in these interesting and turbulent times. You see bearish narrative taking the fold, with consistent pressure on the retail eye. I don't think this is wise. I think we are personally reaching a boiling point and have attached a bottom formation in this update - which is detailed with the clear factor of the three white soldiers, with clear suppression acted out.
This look non other than consolidation currently
Note
Further technical outlined Note
Exhibit [A] - Trade closed: target reached
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.
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.