Before we jump into any conclusions, I want to stress this out: IF we respect this trading range and IF we do not make any decisive lows (below 5600 max), this bottom could be similar to April's one. Absolutely do not @ me There is a big falling wedge forming that I am watching also that can take us to 5400-5500 (for those who prefer classical charting)
Comment
⋅
So far so good, following the fractal. Keep an eye on OBVOSC, it mimics April bottom very well. Should we follow this fractal, price won't dump for a while, so keep that in mind if you want to hedge short it. Also, if you didn't entered any longs yet - you might want to wait as well since price will most likely come back to at least 0.5 of the trading range to form spring/ST (might even retest lows if thats spring). So, do not fomo right now in position
Trade active
⋅
Comment
⋅
Update to my Wyckoff fractal Just an idea though, would be actually surprised if it plays out exactly the same. Volume wise this structure is pretty similar to april, but has some minor differences
Comment
⋅
#BTC Boom! Playing out like exactly like i drawn so far, this Wyckoff fractal looks like cheat code =)
Comment
⋅
Following that similar wedge, remarkable similarities so far!
Comment
⋅
this scalp short was posted in another idea of mine
Man I've been deleting almost all other TA guys in twitter after I found your stuff, there is so much noise there. Your ideas are great, really educational and accurate.
Thanks for your work.
LOKESOVH
⋅
Absolutely brilliant, amazing how similar the two patters are playing out. Almost like you've laid out Wycoff Candies for BTC to follow! :-) Yummm...Going by this, it appears that we could expect a dip around the 6k levels before the next leg up?
LOKESOVH
⋅
@LOKESOVH - are we currently in the 'creek' phase?
Jonty1985
⋅
Overall volume around 1/3 lower than April.
Like then, I'm looking for a pattern to form.
IH&S a possibility.