Bitcoin/1H chart we see a rising wedge , these wedges usually endup with a wick to the upside then make a bigger move to the downside.
we could say the wick to the upside was the CPI move which was not eye catching due to BTC getting weaker every rip it makes.meaning every upwards it goes it comes down harder.
After CPI btc came back down inside the rising wedge range and ONLY tested it once which endedup in a DOJI candle showing decent rejection.
one of these upwards movement will endup with a capitulation candle towards downside
depend on SPX first hour of the market we could possibly wick up to ~22800 before major move to the downside which I think today after MMers digest the CPI and market situation which is getting worse. they start dumping it.
If you like this Please consider following,boosting,sharing. really motivates me to do more
check link to related ideas for in depth analysis+liquidation review
Thanks for reading
we could say the wick to the upside was the CPI move which was not eye catching due to BTC getting weaker every rip it makes.meaning every upwards it goes it comes down harder.
After CPI btc came back down inside the rising wedge range and ONLY tested it once which endedup in a DOJI candle showing decent rejection.
one of these upwards movement will endup with a capitulation candle towards downside
depend on SPX first hour of the market we could possibly wick up to ~22800 before major move to the downside which I think today after MMers digest the CPI and market situation which is getting worse. they start dumping it.
If you like this Please consider following,boosting,sharing. really motivates me to do more
check link to related ideas for in depth analysis+liquidation review
Thanks for reading
