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#analysis 51 - Analysis on Structure

So far BTC reached a "+" bar just like few days ago, which can be recognized as reversal bar.

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A resistance is above and yet untapped. So from this perspective, it's still having chance to go up.

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Now there's still one OB up above, and now price is into the FVG. As the price has consolidated down below the FVG, I expect it to fill lower part of the FVG.

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If we choose the high-volume bar, we can see the bar has rejected the price, and then the price moved back.

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If we check the price action down below, it's worth noticing that the price has never grabbed the liquidity , which is very important for the future rise of the price. From this, I can say it would be hard for the market to go up since the price cannot do it without liquidity, or the money.

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Also, we can say it didn't create a solid consolidation for the price to build position which should be "low enough".

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If you check the history on Jan to May, we can see that the trend is up, but it still lacked lq to move up.

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Also, from May to Jun, similar pattern happened again.

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For the major trend, which is down, and past patterns, I would say it's still not pretty good to buy spot or long here. Right now it's better wait and watch how it gonna play here.

p3nchan

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p3nchan

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