Smart Money BTC - Continued 12182021

With the advent of tax loss harvesting, and news of impending tax on unrealised gains the digital currency market experienced a multi-week downturn. At this present moment a #Wykoff Schematic #1 is presenting itself. In order to make entries on support use lower time frames to locate divergence and impending upthrusts. This will most certainly be an uphill climb but follow the blueprint, this should serve as a guide.

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Break and close above $48500 will begin an uptrend. $52,000 will create an higher high, momentum will build as will investor sentiment. $57,000 presents is a possible zone of rejection.

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Rejection at $48400 level was strong, retesting the highs and breaking them will require buying pressure from London or NY session Monday

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Idea only invalidated once lows are swept, a potential schematic 2 may be at played leaving more consolidation ahead in this accumulation pattern

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Demand area successful defended, we can expect price to break upcoming resistance at $49500 and push higher.

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LPS Currently Printing on 1 hour time frame

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LPS is printed on 1 hr time frame, we can expect another upthrust to our next resistance level $49500-$50000. At resistance expect break of structure to the upside and downside as a show of strength and then a rally in the back up phase to $52000

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Bull Trend Confirmed.

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