Look at this chart... Red was a mistake, retail were in a manic buying frenzy, the likes we will most likely not see again for a while (if ever again) for Bitcoin. White looks like a more sensible outcome, which means the price still has a long way to drop...
For clout when I’m right :) Feel the green box will be a bottom. Any lower and now public will probably start buying whole Bitcoins More seriously, this area is based of a fixed range volume profile from the last time pa was in this area. Top and bottom of the box were hvn’s previously.
bullish divergence on the rsi, volume spikes, vol profile looks at strong support on htf and ltf.
Resting on vol profile support, stoch turning up on the daily, a good entry if trend continues.
This could break out, good volume spikes, and general alt action at the moment...
Charts says it all, but, as more confidence grows in a bitcoin bottom at 6k, alts have been taking off...
Becoming too obvious now, or will we get another shot at longing the bottom of this range? Bids set
you could take a risk with a larger stop loss here, but, i don't think that's worth it, and definitely not worth getting trapped in during this bear market was in accumulation, is now trending up, large volume spikes makes me think this is still be bought up (not so subtle accumulation)
My thoughts on what’s yet to come Hope I’m wrong
Nice ranging between a 5% move here, try and get filled just below and take profits quick, in and out with tight stop
Oof, look at that, has to pop, accumulation vol, if btc poops the bed we will hit stops
look at it, it's ready, surely...???
looks to be in a sweet trend channel here, could be a nice ride up from here if entry hits
red line is the entry, tight stop shown, potential pop up 10% or more to the hvn