MY VIEW ON BTC
1.The price has approached the support level, where it has found buyer activity 4 times before - a bullish signal!
2. After breaking through the 91.689 level, a shadow was formed due to the stops of longs and the price returned to the previous range.
3. On the OBV chart, you can see that the price recovery was accompanied by a significant volume of buyers.
The marked pattern on the OBV occurs regularly during false breakouts.
EXPECTATIONS:
1. the price may test the entire shadow length to 89.600 and return back to the range
2. If the price consolidates at 91.700, we can expect a smooth hike to the upper limit of 102.865.
2. After breaking through the 91.689 level, a shadow was formed due to the stops of longs and the price returned to the previous range.
3. On the OBV chart, you can see that the price recovery was accompanied by a significant volume of buyers.
The marked pattern on the OBV occurs regularly during false breakouts.
EXPECTATIONS:
1. the price may test the entire shadow length to 89.600 and return back to the range
2. If the price consolidates at 91.700, we can expect a smooth hike to the upper limit of 102.865.
Trade active
At the moment, the price has consolidated above 91.689 and is now at 96.520 USD.
The price drop occurred without any selling volume, which confirms a false breakout.
I expect a smooth move to the upper limit of 102.865.
Note
The price returned to the psychologically strong zone of 100,000 USD.
However, the OBV chart shows that this movement took place without an equivalent volume of purchases, so I expect a short-term pullback to around 97.500 with the formation of a range
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.
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.