Bitcoin looks ready for a retracement back to low $30K's to fill the volume imbalance left behind. Wyckoff Methodology and volume analysis would align for a possible re-test of the previous Last Point of Supports which created a double bottom.
A retrace of $32K would fill the volume imbalance, gather buyside liquidity, and shakeout weak hands before another impulse wave higher. The following impulse wave higher could catapult Bitcoin way past All-Time Highs if enough volume hits the tape.
Short for the short term, Long for the long term.
A retrace of $32K would fill the volume imbalance, gather buyside liquidity, and shakeout weak hands before another impulse wave higher. The following impulse wave higher could catapult Bitcoin way past All-Time Highs if enough volume hits the tape.
Short for the short term, Long for the long term.
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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.