$BTC still following the levels & on track to $24.4k as main target.
Volume rising too, so no signs of weakness there.
Once at $24.4k main question is if we will push to $28k, or go down to continue a range.
If rejected, this will be an easy rangetrade for swing traders.
That said, $28k is not that unlikely IMO. And if we do go to 28k, the VPVR indicates the move will be quick (meaning: it will be a steep climb, rather than a gradual one).
$28k will be a bulltrap if it happens, though. Sentiments will be affected quite heavily when we near $30k as people turn bullish, but it will be the local top of a bear market rally.
So I will be aggressive when it comes to profit taking at the important levels.
Using this 1D chart as orientation for now, and serves me well.
Hope it helps you all too. Have a great day!
Volume rising too, so no signs of weakness there.
Once at $24.4k main question is if we will push to $28k, or go down to continue a range.
If rejected, this will be an easy rangetrade for swing traders.
That said, $28k is not that unlikely IMO. And if we do go to 28k, the VPVR indicates the move will be quick (meaning: it will be a steep climb, rather than a gradual one).
$28k will be a bulltrap if it happens, though. Sentiments will be affected quite heavily when we near $30k as people turn bullish, but it will be the local top of a bear market rally.
So I will be aggressive when it comes to profit taking at the important levels.
Using this 1D chart as orientation for now, and serves me well.
Hope it helps you all too. Have a great day!
Comment:
PS: the chart is zoomed out like this in order for the VPVR to take more historic data into account.