BitcoinUpdated BTC - These two setups look suspiciously similar to me
if the wyckoff phases are added to the charts from 2019 and 2022 these setups appear Similar...
which looks very suspicious if you ask me .
if this is the case then id expect the next move to be a failed spring in 'Phase c ' where BTC fakes a bear trap move lower and the shoots back upwards towards the top of the range at 18K
How can we tell if this not that move ?
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This is a good question and I suspect the giveaway clue would be BTC would move below the 16000 level.
BTC should have no business at the 16000 level currently and a move to this level is a bad sign.
My thought is if BTC moves lower it will move to around the 16500 to 16400 level and head back higher.
which looks very suspicious if you ask me .
if this is the case then id expect the next move to be a failed spring in 'Phase c ' where BTC fakes a bear trap move lower and the shoots back upwards towards the top of the range at 18K
How can we tell if this not that move ?
============================
This is a good question and I suspect the giveaway clue would be BTC would move below the 16000 level.
BTC should have no business at the 16000 level currently and a move to this level is a bad sign.
My thought is if BTC moves lower it will move to around the 16500 to 16400 level and head back higher.
Note
Yes I know the 'BC' should say 'SC' , but Im sure you get my gistNote
...for safety its a good idea to set stop at 16300 .
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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.