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Todoubled23
Jan 7, 2022 2:39 AM

$BTCUSD Levels... Short

Bitcoin / United States DollarCoinbase

Description

Per volume profile fairly large amount of what I'll call "blank space" on the larger timeframes, moving with more correlation again to QQQ as risk appetite continues to fall out in the short term. There are some interesting pockets of price identified to the right that have yet to perform justifed price discovery in my opinion.

A large daily/weekly head and shoulders is readily apparent, I wouldn't put too much stock into a true bullish reversal unless real momentum comes back in and pushes above 60s. Short squeeze likely imminent but stay on your toes. With fragmented liquidity spread out among many small exchanges the case for flash crashes only increase over time. This needs to come back to the mean, and we are far far from that. Remember this ran from a low around $4000 to 65000s+ in a very short time...It would not shock or should not shock anyone if we all woke up at 4am one day and see this touching 20k...be nimble and happy trading folks.
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