BTC is no longer on sale lol. No Cyber Monday apparently. Saturday was a really strong move out of the 50% zone and has support from the Stoch and LASS. DXY is coming up a little today. And BTC Dominance is finally near a new high around 43%. I expect a small retracement around the 50EMA before price continues in the uptrend. I also made a few changes. I am using the Line Chart now since Lee was talking about how the institutions look at charts. Since BTC now has a lot of institutional money I would rather look at it their way. Also, I am putting the values in the chart because it was brought to my attention that the numbers on the charts weren't legible. Happy Trading!
So it looks like the Buyer's zone worked after all. That little retest was all it took and price jumped by around 4,500 so far over the last few hours. If you look at the structure, the candle coming out of the zone that ended Saturday was the entry. Price did come back in and retest but only with a wick. Not with any strength. It's amazing that if you look left to the red circle, there is a serious bit of structure that held. That Rally - Base - Drop - Base - Rally is exactly where price did it's Drop - Base - Rally into and out of the 50% zone.
So it looks like the Buyer's zone worked after all. That little retest was all it took and price jumped by around 4,500 so far over the last few hours. If you look at the structure, the candle coming out of the zone that ended Saturday was the entry. Price did come back in and retest but only with a wick. Not with any strength. It's amazing that if you look left to the red circle, there is a serious bit of structure that held. That Rally - Base - Drop - Base - Rally is exactly where price did it's Drop - Base - Rally into and out of the 50% zone.
