Bitcoin in search of liquidity makes pullback movement.
Updated
BTCUSDTBTCPERPBTC has broken out of the symmetrical triangle to the downside.
After BTC tests the low, it should pullback
In my reading, the clearest pullback is between the most liquid zone plotted above with the orange box, but with a zig-zag above this region the asset should test the major resistance of the last consolidation.
We currently have resistance like the EMA 21 and the $16400 range, above this resistance region it is very likely that we will have a generous amount of BTC supply.
If buyers are really willing to defend this price trough zone, we should see that behavior here, which I believe is less likely.
🔴Disclaimer: The comments above reflect solely and exclusively my opinion, this is not a recommendation to buy or sell. Just a series of published studies, so that with the community we can discuss tactics and operational techniques.
🔹 Would you like to ask any questions, take that doubt? Feel free, I'll be happy to help.
Comment
BTC went in search of an area with greater liquidity, will we renew lows now?
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