Presently the overall swing structure of bitcoin is bullish and at the same time the internal structure also is bullish, this giving more narrative of Pro-internal & Pro-external price structure trend.
But currently right now, price in a zone which is an extreme POI zone of a supply. That is, price already mitigate the supply zone of the swing structure. And also this zone happens to be a supply zone between the previous strong high and also price ATH.
However upon the migration of this zone, price as being in an accumulation phase , more like of a pennant, all happening within the supply zone.
so basically i would like to see price sweep some more liquidity to the upside still within the supply zone and the last swing high, and then see some more selling pressure to the downside, in order to facilitate a short-term pullback for price continuation of the upward movement.
But currently right now, price in a zone which is an extreme POI zone of a supply. That is, price already mitigate the supply zone of the swing structure. And also this zone happens to be a supply zone between the previous strong high and also price ATH.
However upon the migration of this zone, price as being in an accumulation phase , more like of a pennant, all happening within the supply zone.
so basically i would like to see price sweep some more liquidity to the upside still within the supply zone and the last swing high, and then see some more selling pressure to the downside, in order to facilitate a short-term pullback for price continuation of the upward movement.
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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.