whats really going on here :
==========================
The chart gives us a heads-up . The Bitcoin bears have established two bearish candles at 58000 and 60296.
we know these two candles are important to the bears because if look at the volume signatures at the
bottom of the chart we see large corresponding volume spikes for these two candles .
The volume spikes indicate that the bears have invested a substantial amount of liquidity at these levels 58000 and 60290
so the bears are going to defend their investment.
.....But
if we look at the BTC channel BTC is moving in, BTC is making higher highs and higher lows so the bears are having a challenging time
preventing the price from moving above the 58000 level. Also from the wicks on the bottom of the bearish candles, sells are being bought up indicating buying power is continuing .
This said id expect BTC can move to the 62K area , and for that we need to see BTC continue to remain above the dashed line its moving in currently.
what if BTC fails to move to 62K ?
==========================
if BTC fails to move to the 62k area id expect a drop to the 53k area and retry the move up .
if that fails id expect a move to 49k and retry the move up from there .
if that fails id expect a move to 46k and retry the move up again.
==========================
The chart gives us a heads-up . The Bitcoin bears have established two bearish candles at 58000 and 60296.
we know these two candles are important to the bears because if look at the volume signatures at the
bottom of the chart we see large corresponding volume spikes for these two candles .
The volume spikes indicate that the bears have invested a substantial amount of liquidity at these levels 58000 and 60290
so the bears are going to defend their investment.
.....But
if we look at the BTC channel BTC is moving in, BTC is making higher highs and higher lows so the bears are having a challenging time
preventing the price from moving above the 58000 level. Also from the wicks on the bottom of the bearish candles, sells are being bought up indicating buying power is continuing .
This said id expect BTC can move to the 62K area , and for that we need to see BTC continue to remain above the dashed line its moving in currently.
what if BTC fails to move to 62K ?
==========================
if BTC fails to move to the 62k area id expect a drop to the 53k area and retry the move up .
if that fails id expect a move to 49k and retry the move up from there .
if that fails id expect a move to 46k and retry the move up again.
Comment:
....but i just dont see BTC failing here and I'm expecting its going to be pushing up a lot higher