Price in VAL zone below POC of $25.4, and especially below the 80% mark. High volatility area for buyers. Price expected to rise.
In addition, it's in a descending wedge, which is a special pattern indicating that price will rise upon breakout.
Breakout not confirmed, but indicating.
In addition, it's in a descending wedge, which is a special pattern indicating that price will rise upon breakout.
Breakout not confirmed, but indicating.
Note
It touched the top but didn't break out! Watch out. short term bearish, but not for long.
Note
Second bottom hit. Price rise bullish temporarilyNote
Pattern fail due to BTC failOrder cancelled
Note
I will update here once the price action risesTrade active
I'm going to break down this picture.These are the S&R levels from Monthly all the way to Daily.
They are important because I am showing you harmony and divergence in the move. This means that bull high volume candles are increase, there is a bull trend, marked in the picture.
The bearish trend are low volume candles, so that's why there is an impulsive correction today. It just needs break the next higher resistance at 25.84 to go straight to 27.42.
TLDR: Harmony bull ride up for a bit. There is low interested in driving in down wards.
Next pics will discuss how its wiping out liquidity
Note
The previous week's low was completely taken over and it rose above, indicating a strong push above the lows. It's forming a nasty morning star candle though, so as long as the volume is low, the trend is still going higher.Trade active
Continuing from the previous picture,this picture shows the same daily candles but now with liquidity lines. This is where most people will be lined up to buy/sell. For our case, this is where most people are selling.
This is supported by the VA POC.
The volume of today's candle cannot lose its steam, and especially not the one tomorrow. If it is a low volume candle, then we will see imminent crash to $24, but REMEMBER THIS IS STILL IN AN UPTREND. Do not back or get squeezed out on your SL.
Note
I'm also seeing a nice inverse head and shoulders. Let's see if it helps.Note
Nothing interesting, just stack between two liquidity zones, the weekly liquidity and previos week's resistance acting as the ceiling, and the very strong daily liquidity along with the support formed at the low of previous week's level are the bottom for this mini accumulation zone. Give it a few days like 2-4 days for a big move to develop. Volume is is low with narrow candles, that means volatility is about to increase soon
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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.