SCBTC (*1000 to show appropriate price history on log scale).
SC has taken a real beating and been in a consistent downtrend since June alt season.
However he has formed a new accumulation zone above the long term volume core, and been sideways since november.
This has created a potential higher low.
Zooming in to lower TFs (use binance for that) you see the downward trajectory broken and buyers stepped in into the formation of a bull flag.
If he breaks north of this area in his usual violent fashion then I would take some profit around 130 satoshis.
Breaking below the march low 60 satoshis and heading further into the volume core would invalidate.
Breaking below 55 could see a long night for SC and he could later be found at the real volume core of 25 satoshis.
SC has taken a real beating and been in a consistent downtrend since June alt season.
However he has formed a new accumulation zone above the long term volume core, and been sideways since november.
This has created a potential higher low.
Zooming in to lower TFs (use binance for that) you see the downward trajectory broken and buyers stepped in into the formation of a bull flag.
If he breaks north of this area in his usual violent fashion then I would take some profit around 130 satoshis.
Breaking below the march low 60 satoshis and heading further into the volume core would invalidate.
Breaking below 55 could see a long night for SC and he could later be found at the real volume core of 25 satoshis.