Hello.
The market provides us clear proof of volatility's comeback. How could We recognize this?
After slipping to previous equilibrum state in November the price action has started to ease the interest what encouraged the investors to use this space for accumulation area. The chart shows clear breakout from equilibrum state what could be interpreted as liquidation of shorts process. As long as BTCSHORTS index rises the market will experience green thurst all along - the peak could not be recognized yet.
Channels I used don't indicate resistance/support areas - why do I use them at all? The chart attached is just a fragment of whole piece that should unfold the most interesting parts of recent price action and We get back the picture of very characteristic Bitcoin move - channeling up. As long as You stare at 4hr frames the persistent accumulation process could be noticed.
How to play?
BTC has returned >90% of losses what suggests us the short plan realization. However We see clear bullish forecast? Regardless the sentiment You need to be a little bi-polar antagonist. Breaking the 6250 with greater volume than recent sell-offs would indicate the bullish scenario. For now the price is more likely to fall into 4750 ish. If selling volume breaks current propel the bearish trend continuation would mark its presence.
The market provides us clear proof of volatility's comeback. How could We recognize this?
After slipping to previous equilibrum state in November the price action has started to ease the interest what encouraged the investors to use this space for accumulation area. The chart shows clear breakout from equilibrum state what could be interpreted as liquidation of shorts process. As long as BTCSHORTS index rises the market will experience green thurst all along - the peak could not be recognized yet.
Channels I used don't indicate resistance/support areas - why do I use them at all? The chart attached is just a fragment of whole piece that should unfold the most interesting parts of recent price action and We get back the picture of very characteristic Bitcoin move - channeling up. As long as You stare at 4hr frames the persistent accumulation process could be noticed.
How to play?
BTC has returned >90% of losses what suggests us the short plan realization. However We see clear bullish forecast? Regardless the sentiment You need to be a little bi-polar antagonist. Breaking the 6250 with greater volume than recent sell-offs would indicate the bullish scenario. For now the price is more likely to fall into 4750 ish. If selling volume breaks current propel the bearish trend continuation would mark its presence.
Comment:
BTC/USD 1W
Comment:
Silent volume provides a lot of space that market could use, looking for support/resistance levels. Price is still likely to fall, no volume at all that could suggest any direction. Shorting now should be carried at high level of risk, that means You should be prepared for more volatility.
Comment:
Since Bitfinex lost its strength temporarily the other look could fit more to general overlook at the market. Here I attached 1D chart of Bitmex exchange where last days were a boiling volume so the prices of 6570 could be just a matter of time. After the nice bullish green candle We should expect slow accumulation into higher zones. I see someone supporting that 5680 level but right after reaching the target shorting is wisely.
