As previously confirmed, BTC has reached the top of the marked channel, swinging off a previously made HIGH. The rejection happened dollar-perfect from the previous LOW made during the last major dip.
Volume continues to decline as the channel moves along a sloping support, but regarding the current market conditions, it is possible that we see yet another lower LOW forming once we break the uptrending channel.
Currently, we see the price fighting to get past the POC of the range and as we keep forming lower highs on the LTF, we are likely to break to test the value area low. If prices reaches said VAL, we may have a scalp LONG opportunity on our hands for some quick money.
Best regards,
VOLK
Volume continues to decline as the channel moves along a sloping support, but regarding the current market conditions, it is possible that we see yet another lower LOW forming once we break the uptrending channel.
Currently, we see the price fighting to get past the POC of the range and as we keep forming lower highs on the LTF, we are likely to break to test the value area low. If prices reaches said VAL, we may have a scalp LONG opportunity on our hands for some quick money.
Best regards,
VOLK
Comment:
Breakthrough POC and onto the weekly/ daily levels.