Ladies and Gents .
BTC is playing out as expected. (previous chart linked)
-There are signs btc may be near bottom.
210 MA as support on weekly,
rsi never been this oversold on weekly.
That historical data doesn't say much with the current economic environment so i am expecting some new movement, this is the 1st time btc has revisited a previous ATH in a bear cycle.
When Placing visible range volume profile on this bull cycle starting from the bottom of 3k it shows 10k as highest traded volume , personally i think a major fall to further drive fear and scare people into selling and force liquidations makes a lot of sense. However we are now in this 19k range I previously marked as a potential buying opportunity. I will take one third position sizes if we get a decent weekly rejection from it as so many people are bearish a rejection would catch a lot of people waiting for lower lows.
hopefully some of you find this useful, good luck navigating these turbulent times.
BTC is playing out as expected. (previous chart linked)
-There are signs btc may be near bottom.
210 MA as support on weekly,
rsi never been this oversold on weekly.
That historical data doesn't say much with the current economic environment so i am expecting some new movement, this is the 1st time btc has revisited a previous ATH in a bear cycle.
When Placing visible range volume profile on this bull cycle starting from the bottom of 3k it shows 10k as highest traded volume , personally i think a major fall to further drive fear and scare people into selling and force liquidations makes a lot of sense. However we are now in this 19k range I previously marked as a potential buying opportunity. I will take one third position sizes if we get a decent weekly rejection from it as so many people are bearish a rejection would catch a lot of people waiting for lower lows.
hopefully some of you find this useful, good luck navigating these turbulent times.
