Bitcoin Week nr. 16

This week bitcoin moved back into it's range. The 50 DMA is pushing it down, right now we are finding support on the 21 DEMA. Considering we have not closed above the recent range high in 5 days is looking more and more bearish. That said I only give it 60/40 right now, this because candles reveal indecisiveness. Wick to supply close below and wick to demand close below. Trade has pretty clear invalidation level close above range/7200 and likely price will visit 8000 and possibly much higher.

Note

Note

Keeps rejection of montly Vwap

Note

Both sides have been run. X's show levels which have not been run yet.

Trade active

Taking a long here, drop to recent POC. Weak top structure at 7400 likely it breaks. Expect eth to flip 175 and rally further which will lead btc up.

Note

My thoughts on btc right here. Sellers defend their previous range POC, they still have sell positions. Right now buyers need to step in arround the High Volume Node. The big POC level and some of the buy accumulation range POC's are in the 6800-6700 region. Buyers NEED to defend that region.

Note

Half of my limits filled here. Heatmap shows players defending 6700

DemKos

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.

DemKos