RLinda ! BTCUSD-> The intrigue remains. Bulls or bears?
Updated
Bitcoin captures an anti-record of volatility. The flagship has been in the tightest possible consolidation between the 0.618 ($16584) and 0.5 ($16926) Fibonacci levels since mid-December.
A final breakout of one or the other consolidation boundary, followed by a confirmation, could send the price far up or down. At the moment there is a potential for growth and here is why: as we can see, the ascending price channel is forming and even confirmed and the price is pushing away from the support. At the same time, the price is not falling much and is headed for the retest of the wedge resistance, the breakdown of which could form a bullish momentum towards the liquidity zone of $18700. In the medium term, the price shows interesting bullish preconditions.
The price, judging by Wyckoff's theory and his accumulation theory is in stage C (presumably). From here we can assume that the price is in the neutral zone, where whales continue to buy coins, and ordinary traders and investors losing interest exit the market. We continue to follow bitcoin.
Trigger levels for growth activation I consider: 16900, 17600 and 18700
Regards R. Linda!
A final breakout of one or the other consolidation boundary, followed by a confirmation, could send the price far up or down. At the moment there is a potential for growth and here is why: as we can see, the ascending price channel is forming and even confirmed and the price is pushing away from the support. At the same time, the price is not falling much and is headed for the retest of the wedge resistance, the breakdown of which could form a bullish momentum towards the liquidity zone of $18700. In the medium term, the price shows interesting bullish preconditions.
The price, judging by Wyckoff's theory and his accumulation theory is in stage C (presumably). From here we can assume that the price is in the neutral zone, where whales continue to buy coins, and ordinary traders and investors losing interest exit the market. We continue to follow bitcoin.
Trigger levels for growth activation I consider: 16900, 17600 and 18700
Regards R. Linda!
Note
*I didn't consider fundamental factors. only technical analysisNote that the price is in the support zone of the ascending channel. The upside potential is open to wedge resistance
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NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
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🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
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