Hello Everyone,
I believe bitcoin is experiencing PRice Action Exhaustion and needs deeper correction for a larger upward swing.
I've included most of the explanation within the chart but most upward moves have strong bullish PA then followed by Exhaustive PA which then leads to a larger drop/correction. 53-55k would also allow your alts to correct and breathe a bit more for another explosive move to the upside. There was also what looked like an Inverted Head and Shoulders which failed to close at 63.7k. This is a huge determinant with exhaustive swing patterns.
As always,
Be patient, use risk management, and good luck trading!
I believe bitcoin is experiencing PRice Action Exhaustion and needs deeper correction for a larger upward swing.
I've included most of the explanation within the chart but most upward moves have strong bullish PA then followed by Exhaustive PA which then leads to a larger drop/correction. 53-55k would also allow your alts to correct and breathe a bit more for another explosive move to the upside. There was also what looked like an Inverted Head and Shoulders which failed to close at 63.7k. This is a huge determinant with exhaustive swing patterns.
As always,
Be patient, use risk management, and good luck trading!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.