BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
With price slowly approaching the 200WMA and huge volume , one can't help but fit the Wyckoff narrative into this trading range. A Phase B secoondary test ( ST ) would be confirmed if price moves back up fast into the trading range after finding support in the 3000-3300 region. This may mean that this is a final chance to buy Bitcoin if a low point of supply follows after this Phase B secondary test or one of two final chances to buy if a spring follows.
Note that the volume profile has to fit this narrative with a lot of buying volume .
Comment: PA currently not looking bullish with inability of bulls to stay above 3433 and low relief buy volume. Looking for a sweep of recent lows at 3200 to the 3000USD level possibly.
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