👉#BTC has deviated from the RLs and has since seen a magnificent recovery into KL, which, if closed above on the daily, can result in higher prices, potentially even a new ATH. The weekly candle itself is a long-legged doji, which, as you know, is an indecisive candle with a very small body representing indecision, and rightly so, as we continue to range on HTF with no resolution above or below the SH and SL.
I also note that despite the recovery, we’ve closed below the weekly resistance at 106400 on HTF. A weekly close above it would be ideal to confirm higher prices
👉On LTF/MTF – We’ve seen a break above the TL as well as 4H & 12H closes above the PSH at 106766, which ought to be sufficient as a signal for an upward move. For better confirmation, I’d like to see a daily close above PSH, followed by a PB into KL, and we can then look for entries on BTC or alts.
If, however, we see a rejection from the CMP and get below ~103K, it suggests a retest of 100K and potentially even 98K. So keep that in mind, even though that’s an unlikely scenario given the strength of the PA atm.
💪I also note that we haven’t left any imbalances in the chart. Every imbalance has been filled by an LH, which suggests we might see a swift move up if it comes. Now we’re just waiting for the daily close to confirm the BO above PSH, which seems likely given the PA.
💪Also, all BVOLs charts are at support atm, suggesting a massive surge in volatility may follow.
I also note that despite the recovery, we’ve closed below the weekly resistance at 106400 on HTF. A weekly close above it would be ideal to confirm higher prices
👉On LTF/MTF – We’ve seen a break above the TL as well as 4H & 12H closes above the PSH at 106766, which ought to be sufficient as a signal for an upward move. For better confirmation, I’d like to see a daily close above PSH, followed by a PB into KL, and we can then look for entries on BTC or alts.
If, however, we see a rejection from the CMP and get below ~103K, it suggests a retest of 100K and potentially even 98K. So keep that in mind, even though that’s an unlikely scenario given the strength of the PA atm.
💪I also note that we haven’t left any imbalances in the chart. Every imbalance has been filled by an LH, which suggests we might see a swift move up if it comes. Now we’re just waiting for the daily close to confirm the BO above PSH, which seems likely given the PA.
💪Also, all BVOLs charts are at support atm, suggesting a massive surge in volatility may follow.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.