$BTC - Some thoughts
- Overall, this is where I would expect price to have settled on the drop
- Wold be a fairly routine "retest" if this low holds in the green zone
- However, some concern looking at VPVR:
- Typically want to see volume below > than volume above before a move
- Currently worried about large volume shelf in $6400 area
- Expect another prolonged period of sideways accumulation if we are going to manipulate the volume profile in a positive way
- Overall, this is where I would expect price to have settled on the drop
- Wold be a fairly routine "retest" if this low holds in the green zone
- However, some concern looking at VPVR:
- Typically want to see volume below > than volume above before a move
- Currently worried about large volume shelf in $6400 area
- Expect another prolonged period of sideways accumulation if we are going to manipulate the volume profile in a positive way