Hey tradomaniacs,
this analysis doesn`t explain any fundamentals and takes a look at the volume aswell as the price-structutre.
looking at the volume of BITCOIN I expect the support-zone to break soon for a short-term-correction and a trigger of the S/H/S-Pattern in the weekly-chart.
Basically you can see a huge different in terms of absoprtion here in the chart as high volume and volatility seems to dissappear near the support-area.
High volume, volatility and combined with fakeouts, or high effort and no result by sellers, are often a result of market manipulation and absorption as big players are making sure to get needed liquidity.
Now the problem is that this support is obviously an attractive price for retailers to buy, which is why I expect move below the range in order to catch stop-losses.
The effort buyers were taking are normally a very strong buy-indication, but since the slow and hidden distribution stops the bullish momentum we can assume whales are not fed-up yet and need more liquidity to boost the markets.
To get this liquidity including lower and more attractive prices we could see another dump to washout weak hands which are sitting at this support-zone.
The target for the S/H/S-Pattern is around 15k and could give us a very nice price to buy Bitcoin for Discount!
Let`s see :-)
LEAVE A LIKE AND A COMMENT - I APPRECIATE EVERY SUPPORT!
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this analysis doesn`t explain any fundamentals and takes a look at the volume aswell as the price-structutre.
looking at the volume of BITCOIN I expect the support-zone to break soon for a short-term-correction and a trigger of the S/H/S-Pattern in the weekly-chart.
Basically you can see a huge different in terms of absoprtion here in the chart as high volume and volatility seems to dissappear near the support-area.
High volume, volatility and combined with fakeouts, or high effort and no result by sellers, are often a result of market manipulation and absorption as big players are making sure to get needed liquidity.
Now the problem is that this support is obviously an attractive price for retailers to buy, which is why I expect move below the range in order to catch stop-losses.
The effort buyers were taking are normally a very strong buy-indication, but since the slow and hidden distribution stops the bullish momentum we can assume whales are not fed-up yet and need more liquidity to boost the markets.
To get this liquidity including lower and more attractive prices we could see another dump to washout weak hands which are sitting at this support-zone.
The target for the S/H/S-Pattern is around 15k and could give us a very nice price to buy Bitcoin for Discount!
Let`s see :-)
LEAVE A LIKE AND A COMMENT - I APPRECIATE EVERY SUPPORT!
Wanna see more? Don`t forget to follow me!