A Bridge Too Far
Updated
Recap on previous analysis: Green 1 (the original Green 3 of “Stay in Your Lane”) has been hit after a retest of Decision 2. Price now is struggling with the base of that Green 1.
The distance between current Decision 1 and Green 1 is big and bridging this is dangerous, so Money Man advises caution. Least resistance for price would be to veer away from that chasm, but we have been around these levels for a while now and enough energy could have been built up. Also having a big chasm like that behind you, makes price vulnerable. He also sees a failure of price to take the leap easily resulting in a visit of Red 3.
Conclusion: Struggling at these levels seems natural as they are so decisive. Remember: No guarantees, only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
The distance between current Decision 1 and Green 1 is big and bridging this is dangerous, so Money Man advises caution. Least resistance for price would be to veer away from that chasm, but we have been around these levels for a while now and enough energy could have been built up. Also having a big chasm like that behind you, makes price vulnerable. He also sees a failure of price to take the leap easily resulting in a visit of Red 3.
Conclusion: Struggling at these levels seems natural as they are so decisive. Remember: No guarantees, only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
Note
Previous BTC analysis 
Note
Next BTC analysis 
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.