Time to reexamine my HTF bias as BTC is at a HTF level.
I was expecting new lows below 3k to happen before 14k is ever hit again. But the lack of selling volume has had me weary for a while. The volume seems to continuously dry up as BTC goes lower and I can't imagine BTC having any serious break down at this pace.
We haven't seen any significant bullishness yet but I want to get in before it's obviously bullish to everyone.
There was a nice bullish SFP at the demand right below my key 6800 s/r level, and it's also the VPOC of the last ~2 years. 7500 has been tested many times and the volume keeps decreasing on each rejection, I think it's on the verge of a large break out.
My HTF bias is now changed as the chart shows.
I think BTC is near the bottom of a large bullish consolidation.
I was expecting new lows below 3k to happen before 14k is ever hit again. But the lack of selling volume has had me weary for a while. The volume seems to continuously dry up as BTC goes lower and I can't imagine BTC having any serious break down at this pace.
We haven't seen any significant bullishness yet but I want to get in before it's obviously bullish to everyone.
There was a nice bullish SFP at the demand right below my key 6800 s/r level, and it's also the VPOC of the last ~2 years. 7500 has been tested many times and the volume keeps decreasing on each rejection, I think it's on the verge of a large break out.
My HTF bias is now changed as the chart shows.
I think BTC is near the bottom of a large bullish consolidation.
Reversal trade setup.
Trade it at bybit.wtf