I am not sure what your entry price (my current average is around 13,500), but I am planning on selling a bunch (3/4 of my max position) at $16,700. The prominent Point of Control is already acting as strong resistance and I am expecting that it will take a while before it can take it.
On the next push up, I hope to liquidate a ton aroundBITSTAMP:BTCUSD 16,700 and then reload when it gets to outside of value below 14,500.
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Added more at 14,200
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There are big blocks on the order book at 15,300 (over 100 coins). If we break below 13,000 will be closing all positions.
In the news front, there are news that Korea is putting pressure on regulation for crypto. Also XRP is rising fast and there is a chance BTC money is moving into XRP.
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Still holding position. So far balancing between 13,500 and 16,500 per my comment to @cryptobee
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The volume profile looks really good and now creating a nice bell shape and it seems like this part of the auction is completed. Added more at 14,100. Expecting prices to start heading back towards the point of control at around 16,700.
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Trade is still active. despite spending a lot of time below, the Point of Control remains unchanged.
Thank you for a clear explanation. Just to confirm you are suggesting safest time is to buy when 14,500 or lower?
Investorito
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@Cryptobeee, If you are not long, I would not enter long now. Considering that 14,500 is in Value Area Low (from Volume Profile standpoint) it would be a make a good first entry, but being BTC we just can't enter it blindly. We must evaluate that when it happens. If it falls out of the sky, or some other news happen it may not be the best.
If you are long already, I would recommend looking at 16,800 or below for target. From a Volume Profile perspective, BTC should spend some time between 14,300 and 16,800 to "repair" that area.