Bitcoin Analysis 1H Chart - 7/03/2002 - Sofi12z
Our previous idea. It was reaching 44K, at 44K we did a brief summary of a possible drop to 41K USDT.
Specifically. At this level, prices were in what we call the "Grey Zone"
The institutional began to take short positions within this same level, hence the VWAP-MWAP broke down (This defines the volume through moving averages).
Adding that the Bitcoin Futures Volume indicator was marking many short positions by institutional ones.
Finally, the Bitcoin Exchanges Volume defined an increase in the amount of Bitcoin within the exchanges. Which in consistency could be defined as open interest to trade, trade down (By CME institutional).
We fall to the 41K zone that we mark as a possible place to take liquidity and thus try to have more long positions and break the Weekly resistance in our personal opinion. However, this did not happen and finally with a small gray area the Institutional Volume continues to define this downwards. Getting to the current point where CME closed for the weekend.
Making this same one have a price difference and at its opening today filling the Gap that we mentioned earlier in the 39200.
Right now on the 1H chart I would expect a test of the 1H Resistance and finally falling repeatedly to take liquidity at the 3D-5D Support. Hoping that this does not break down in order to follow the Daily idea.
From here he made it clear that my idea in the video every time I clarified 39000 was my 1H target when I started to record the price was 38200. Currently increase the target towards 39900. Because I think it would be a good way for the bears to take shorter In case you want to test as I repeatedly mentioned the 12H support (This analysis was on Hours chart).
Specifically. At this level, prices were in what we call the "Grey Zone"
The institutional began to take short positions within this same level, hence the VWAP-MWAP broke down (This defines the volume through moving averages).
Adding that the Bitcoin Futures Volume indicator was marking many short positions by institutional ones.
Finally, the Bitcoin Exchanges Volume defined an increase in the amount of Bitcoin within the exchanges. Which in consistency could be defined as open interest to trade, trade down (By CME institutional).
We fall to the 41K zone that we mark as a possible place to take liquidity and thus try to have more long positions and break the Weekly resistance in our personal opinion. However, this did not happen and finally with a small gray area the Institutional Volume continues to define this downwards. Getting to the current point where CME closed for the weekend.
Making this same one have a price difference and at its opening today filling the Gap that we mentioned earlier in the 39200.
Right now on the 1H chart I would expect a test of the 1H Resistance and finally falling repeatedly to take liquidity at the 3D-5D Support. Hoping that this does not break down in order to follow the Daily idea.
From here he made it clear that my idea in the video every time I clarified 39000 was my 1H target when I started to record the price was 38200. Currently increase the target towards 39900. Because I think it would be a good way for the bears to take shorter In case you want to test as I repeatedly mentioned the 12H support (This analysis was on Hours chart).