Just posted my recent distribution thoughts, here's the follow of I think is potentially playing out. The composite man has liquidated you (and me for that matter) and is accumulating all BTC out there like a chad. WELL, we are very early into this accumulation period (if this is really whats happening) could potentially be 6-8 weeks of sideways action. What do I see on the chart that makes me theorize this? in my trading plan I trade ranges, key levels (S/R flips), order blocks (the grey rectangle in the photo), Ichimoku for confluence when taking trades. I tend to never try and catch knives. So let's go through those key points.
Ichimoku on the 4HR is really playing a clearer role (for me and my strategies anyways) we have had a clean rejection on the red kumo cloud and coming back for another low (any ichi traders out there know if we don't blast through red cloud we either range in the cloud or get another low). A green cloud is also starting to form in what I predict to be phase of accumulation. The kumo cloud which usually act's as support and resistance is forming in the mid line and around a key OB, you can see how price previously acted above that OB, if this were to play true again above the green cloud and fall through, this show's a sign of even more weakness. Then the real pain come, the spring. Most likely under a red cloud, but hopefully a big ol' bear trap and as we start to climb, getting those shorts to buy back we find ourselves in SOS, the rest of the market starts to see what I see and then onto the Bearlin Wall of 58k. Long term for us to be bullish that would need to be breached and tested. But I'm getting ahead of myself here. I'm already ahead of myself thinking this will play out.
Mandatory "this is not financial advice" remark, I don't know what I'm doing still, just here to learn more. I'm a meme, you're a meme, this market is a meme.
We are all gonna make it. I invite all criticism of this theory, rather be wrong and rich, not wrong and broke.
Ichimoku on the 4HR is really playing a clearer role (for me and my strategies anyways) we have had a clean rejection on the red kumo cloud and coming back for another low (any ichi traders out there know if we don't blast through red cloud we either range in the cloud or get another low). A green cloud is also starting to form in what I predict to be phase of accumulation. The kumo cloud which usually act's as support and resistance is forming in the mid line and around a key OB, you can see how price previously acted above that OB, if this were to play true again above the green cloud and fall through, this show's a sign of even more weakness. Then the real pain come, the spring. Most likely under a red cloud, but hopefully a big ol' bear trap and as we start to climb, getting those shorts to buy back we find ourselves in SOS, the rest of the market starts to see what I see and then onto the Bearlin Wall of 58k. Long term for us to be bullish that would need to be breached and tested. But I'm getting ahead of myself here. I'm already ahead of myself thinking this will play out.
Mandatory "this is not financial advice" remark, I don't know what I'm doing still, just here to learn more. I'm a meme, you're a meme, this market is a meme.
We are all gonna make it. I invite all criticism of this theory, rather be wrong and rich, not wrong and broke.
