Hi Traders,
Building on where we last left off. So $BTC prices managed to break through the first downward trend line to the channel that it has been conforming to since MAY. Its created a higher high, indicating bullish sentiment. Prices rejected the confluence zone as support and selling off slightly.
Prices are likely to continue as sell side volume is still very weak on the higher time frames, so we could see a slow push higher into the higher two zones to find more liquidity to take things lower. Now, if sell side volume continues to not show signs of strengthening as it moves through resistance zones we are very likely to break the second trend line to the channel and make its way towards a large order block between $39,000-$41,000. This is where it is likely to make a larger correction back down to the top of the channel.
On the other hand, if sell side volume pick up as prices move towards the ceiling of the the second trend line to the channel then expect a fall in prices to find support around $33,000-$34,000, if sellers still look strong then expect prices to want to create a lower high and potentially break the bottom of the channel.
We said the next 4 weeks will be huge and we weren't playing around, expect volatility in the market so expect huge swings to profit on!
Thanks
MS
⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️
Building on where we last left off. So $BTC prices managed to break through the first downward trend line to the channel that it has been conforming to since MAY. Its created a higher high, indicating bullish sentiment. Prices rejected the confluence zone as support and selling off slightly.
Prices are likely to continue as sell side volume is still very weak on the higher time frames, so we could see a slow push higher into the higher two zones to find more liquidity to take things lower. Now, if sell side volume continues to not show signs of strengthening as it moves through resistance zones we are very likely to break the second trend line to the channel and make its way towards a large order block between $39,000-$41,000. This is where it is likely to make a larger correction back down to the top of the channel.
On the other hand, if sell side volume pick up as prices move towards the ceiling of the the second trend line to the channel then expect a fall in prices to find support around $33,000-$34,000, if sellers still look strong then expect prices to want to create a lower high and potentially break the bottom of the channel.
We said the next 4 weeks will be huge and we weren't playing around, expect volatility in the market so expect huge swings to profit on!
Thanks
MS
⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️
