Hi everyone,
This is my first published idea so be nice, ha.
As you can see BTCUSD is respecting the upward sloping channel while moving through and playing the previously established ranges.
BTC has broken down out of the Dec 21 range, though i suspect it will continue to consolidate on the lower boundary of the upward sloping channel, then breakout back into the Dec 21 range and continue higher. Confirmation will be a clean break of the Dec 21 range lower boundary, a retest, or if price consolidates at that level (support).
The trigger will be a shift in the Volume Accumulation/ Distribution indicator from distribution (red) to accumulation (green). This precedes price shifts, and indicates the bias of smart money.
Leaning long but ready to shift short upon a breakdown and failed retest of the upward sloping channel.
Thanks
This is my first published idea so be nice, ha.
As you can see BTCUSD is respecting the upward sloping channel while moving through and playing the previously established ranges.
BTC has broken down out of the Dec 21 range, though i suspect it will continue to consolidate on the lower boundary of the upward sloping channel, then breakout back into the Dec 21 range and continue higher. Confirmation will be a clean break of the Dec 21 range lower boundary, a retest, or if price consolidates at that level (support).
The trigger will be a shift in the Volume Accumulation/ Distribution indicator from distribution (red) to accumulation (green). This precedes price shifts, and indicates the bias of smart money.
Leaning long but ready to shift short upon a breakdown and failed retest of the upward sloping channel.
Thanks