Observing bullish div. (Double divergence)
Huge liquidity Zone 106,400 - 107,100 sat below.
Appears that BTC is reacting to the fibs. Currently bouncing off 618
Prediction: I think that BTC is leaving the lower liq zone as a snack for later. Rally into the week +3%. However think we will run into resistance @ 110K which is the weekly high x 3 / low x 1, the 0.5 fib, a liquidity zone and would touch a macro uptrend.
Then start to move down to grab said liquidity but ultimately moving down to 786 @ 103K mid-september. Think this will act as a long squeeze for traders expecting new ATHs.
Then parabolic rally into late Q4.
Huge liquidity Zone 106,400 - 107,100 sat below.
Appears that BTC is reacting to the fibs. Currently bouncing off 618
Prediction: I think that BTC is leaving the lower liq zone as a snack for later. Rally into the week +3%. However think we will run into resistance @ 110K which is the weekly high x 3 / low x 1, the 0.5 fib, a liquidity zone and would touch a macro uptrend.
Then start to move down to grab said liquidity but ultimately moving down to 786 @ 103K mid-september. Think this will act as a long squeeze for traders expecting new ATHs.
Then parabolic rally into late Q4.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.