We are entering distribution area where a lot of previous top buyers may want to exit
Not expecting a pump straight through ATH since its a heavy selling area (thick horizontal line at 57)
Instead, could be nice to have a channel going up slowly chewing away at that area before a final pump
Right now might go straight for channel top pre market open or paint IHS to trap bear liquidity to make it easier
If it happens I will be swing trading within this channel, moving increasing focus on alts
Not expecting a pump straight through ATH since its a heavy selling area (thick horizontal line at 57)
Instead, could be nice to have a channel going up slowly chewing away at that area before a final pump
Right now might go straight for channel top pre market open or paint IHS to trap bear liquidity to make it easier
If it happens I will be swing trading within this channel, moving increasing focus on alts
Note
btc might have shown near-top just now but crypto has not finished the rally yet, i'll be waiting for the liquidity to move to eth and some alts next
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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.