NathanAlfred

The Bulls are Exhausted, Bears stepping In

COINBASE:BTCUSD   Bitcoin
BTCUSD

Here is a analysis based on the 4hour timeframe. Looking at market structure, a nice Wedge pattern confirming a potential breakout to the downside to collect more orders in the Imbalance zone due to high liquidity push up that happened on Sunday.

If Price breaks the wedge I will be looking for potential sell positions to my Imbalance zones then look for potential Buy positions to ride it up.
I strongly feel that BTC needs to collect more orders to push BTC pass the 50K mark. I'm predicting that this will all take place this week.

What do you think?

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.