Let's take a look at $BTC on the 4hr chart.
We have made an SFP (meaning we took out the liquidity on the top, but failed to close above it --> downside) and since then, we have been in a downtrend, with still no signs of reversal to come.
I'm currently looking at 2 levels (first: the nVPOC of the previous accumulation phase + second: Open Liquidity zone)
If we can take out these 2 levels, but close above them --> looking at the SUPPLY zone @43.2 - 44k
NOTE: Keep in mind that we have created 2 FVG's (see my previous post for explanation on this topic) below this, so I wouldn't be surprised to see us revisiting these zones.
Hope you find this analysis usefull!
Oli
We have made an SFP (meaning we took out the liquidity on the top, but failed to close above it --> downside) and since then, we have been in a downtrend, with still no signs of reversal to come.
I'm currently looking at 2 levels (first: the nVPOC of the previous accumulation phase + second: Open Liquidity zone)
If we can take out these 2 levels, but close above them --> looking at the SUPPLY zone @43.2 - 44k
NOTE: Keep in mind that we have created 2 FVG's (see my previous post for explanation on this topic) below this, so I wouldn't be surprised to see us revisiting these zones.
Hope you find this analysis usefull!
Oli
Played out nicely!