A boring market will lead to bigger volatility

It’s been a very very slow week with the uncertainty coming in the market as we are seeing bitcoin has shown us nothing since the last week’s movement.

If you see it from the perspective on the weekly time frame, we see major wick toward the downside but in fact, this isn’t a significant movement we need to count because it was only a manipulative wick to fill the room we anticipated earlier.

What’s more important is the perspective on the daily time frame which the price is now trying to take out the anticipated resistance trend line we have been covering since last week.

On the previous analysis, we also covered a movement toward the downside first as the action to take out the unclosed gap/wick before the price spike higher that’s why we prepared our DCA levels earlier on some coins. However if the price takes out this resistance trend line first, it can be major upside movement for bitcoin which is also good for us which we don’t have to wait longer to take our profit.

Beside all of the things we have been prepared above, also we have another concern of current structure which the test to take out resistance trend line is the third test which usually it will become a trap structure to absorb long position before it liquidates them.

That’s why we have to be very careful with trying to be as reactive as we can on current structure.

It will be a lie if we said we know exactly where the market will go but all we know is that the market is reaching out the temporary bottom level based on the date we have that’s why we started to do DCA.

If it spike up, we will happily scaling out to take profit but if it drops lower, it will be better for us to scaling in even more of our position.