The last seller exhaustion pattern (right shoulder) may have just formed with no supply kicking in yet. If no one is willing to sell at this point, the buyers who bought lower might have decided to hold their positions. Trade safe!
AUD is loosing steam vs JPY, Price Action shows fading candles into a major Point of Control for sellers; positions liquidation shown with the recent volume peak goes hand in hand with The unfolding divergence according to my rules.
A Bullish divercence took place and price action confirmation followed with price breaking some of the last selling impulse.
$2500-$3500 looks like an interesting level to buy while $5500-$6500 a good level to sell. This might JUST be the beginning of a long period of accumulation.
-A range might be developing into a BIG seller reign;
-Potential Fake out on range top in the direction of the big seller territory. (Engulfing bearish candle + inside bars on daily)
-The buyers are testing too much times the diagonal trendline in a short time interval; which could be and indication that they are fading
-BTC (The leading indicator) has...
My Idea shares about a Long term hold opportunity for Bitcoin back to $17000 with a short term
counter-trend trade opportunity from 9000-$9300 area.
Average Holding time: 2 Months
I might start the long positions accumulation from $8200 !
Trade with care and good luck!