BTC - Trading range within a trading range continuation

30 Nov 2022

This is a continuation of the chart below .
A look on the second chart in that graph shows BTC is now exiting the top of the smaller trading range
(trust me it helps to click through and understand what the whales are up to )

The aim of the market makers is to test the top of the trading range as was explained in the graph below

30 Nov 2022

Nota

so how can we assume whales are going to push the price up
...One way we can guess is by looking at the smaller trading range below

If the market makers intend to push prices higher we may see a quick test of the top of this range at 16800 . if this test succeeds then we can assume BTC will continue to the top of the larger range at around the 17800 to 18000 area.

However if this test of the smaller Trading range at 16800 fails then we can assume the market makers are going to move BTC back lower to the bottom of the Trading range at 15604,

30 Nov 2022

Nota

Another interesting thing to Note is these are actually 3 trading ranges and the real test should BTC move higher will occur at the overlapping area at 17600

30 Nov 2022

Nota

A successful test of the smaller range will look something like the following.
Where BTC moves back down to tests the top of the range before pushing higher.