BTCUSD
is at a decision point for future directional price movement. As stated in a previous Idea I've posted, we are sitting very closely to the Yearly Open Price, which is a very powerful level for Investors & Traders. On top of that, it is at these levels that Big Public Companies, such as
TSLA
, publicly announced they have made an investment in BTC. "Smart Money" now has two options. They can close the remaining Open Long Positions that they still have from Accumulation Phase in a coordinated move, pushing price down strongly, or they can begin re-accumulating at these levels to build a new position with the profits they've taken from Distribution Phase. Either way, it will definitely be a battle of Bulls Vs Bears, and I'm excited to watch with Popcorn in hand.
Comment:
We can see how Smart Money decided to chose the latter option I mentioned on this post, pushing price on COINBASE:BTCUSD back up to the Previous ATH's at $60k, however the 1st and 2nd Divergence on Cumulative Delta Volume shows that Smart Money was selling into Dumb Money during the rise. Smart Money then began a distribution phase, however it should be noted that throughout the Distribution, Smart Money maintained an accumulated volume of just over 1/2 million BTC that was acquired during the tight accumulation range from 3k-12k after the first 20k bull run.
The final CDV Divergence shows that Smart Money is beginning to sell the accumulated 1/2 Million BTC they had accumulated and held, potentially indicating that Smart Money intends to close the remaining Open Long Positions that they still have from Accumulation Phase in a coordinated move, pushing price down strongly.
