At some point I think we might still continue to consolidate in the current range and keep everyone in stress for some time, however, seeing the pullback makes me think people are just not let to be positioned long with every resweep occuring, eventually it will blastoff either way for sweep of lower liquidity which leaves hope for the higher targets or continue drain the wallets of the retail traders and households.
Globally speaking, I see this range as one of the final targets for BTC due to the distribution we already have in this range, So speaking of the previously uploaded 1D analysis it would be nice to see lower prices but it does not mean it will deliver there as it might still keep us in the range so the people continue buying. Who would want to buy below the range which will tell the retail traders that we broke the support, (and who will pay the money for distributed btc when their pockets already empty)
Globally speaking, I see this range as one of the final targets for BTC due to the distribution we already have in this range, So speaking of the previously uploaded 1D analysis it would be nice to see lower prices but it does not mean it will deliver there as it might still keep us in the range so the people continue buying. Who would want to buy below the range which will tell the retail traders that we broke the support, (and who will pay the money for distributed btc when their pockets already empty)
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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.