Goodmorning @everyone! I just want to share with you my TA on the current movement of BTC on a 4h TF
- The Price of BTC broke above the trend line and is trying to retest the resistance level and trend line around 38k, it can bounce from here after filling the gap between 37.7k - 38.7k and push to the up side
- We still have another gap between 36.1k - 37.6k, If BTC breaks through the lower trend line of the rising wedge pattern, this next gap has a potential to be filled leading to another fake out of descending triangle
- Having that said, if you are familiar with the wyckoff theory, you'll notice that if my Analysis is correct, we may enter to phase C or D from that theory
- Now, we have another gap around 51-53k, unless we break this level, I am positive that the bull run will continue, if this gap will just be filled but bounce down from here, that can be the dead cat bounce.
- Overall, I am not convinced on this BTC price movement unless we get a confirmed breakout on our 53k level.
That's it guys! Take care! NFA, DYOR * TAYOR
- The Price of BTC broke above the trend line and is trying to retest the resistance level and trend line around 38k, it can bounce from here after filling the gap between 37.7k - 38.7k and push to the up side
- We still have another gap between 36.1k - 37.6k, If BTC breaks through the lower trend line of the rising wedge pattern, this next gap has a potential to be filled leading to another fake out of descending triangle
- Having that said, if you are familiar with the wyckoff theory, you'll notice that if my Analysis is correct, we may enter to phase C or D from that theory
- Now, we have another gap around 51-53k, unless we break this level, I am positive that the bull run will continue, if this gap will just be filled but bounce down from here, that can be the dead cat bounce.
- Overall, I am not convinced on this BTC price movement unless we get a confirmed breakout on our 53k level.
That's it guys! Take care! NFA, DYOR * TAYOR