BitcoinUpdated BTC - local re-accumulation rejection at 17425
This looks like BTC is in a local re-accumulation trading range which goes from 17249 to 16733.
There has currently been a rejection at the top of the range at 17425 and BTC has fallen back into the trading range.
if the wyckoff phases are drawn in then this would be a local phase B and id expect BTC can move to the bottom of the range at around 16733 before pushing higher.
There has currently been a rejection at the top of the range at 17425 and BTC has fallen back into the trading range.
if the wyckoff phases are drawn in then this would be a local phase B and id expect BTC can move to the bottom of the range at around 16733 before pushing higher.
Note
My Stop will be set at 16500 to be on the safe side.Note
instead of 16500 its better to set stop at 16300
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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.