John_Q_Public

BTCUSD Potential Triple Top Forming.

Short
BINANCE:BTCUSD   Bitcoin
It appears BTCUSD could be setting up for a Triple Top formation over the weekend. Several confluences at times could be random but BTC has always been respectful of things such as Fib and Pi so there is not allot of random in the big picture. Some interesting confluence stats, from the ATH on Feb 21 to the blue line is exactly...21 bars, intersection of significant level at 57,000 and trend line is on April 1 and VPVR max volume intersects trend line just south of psychological 50,000 level. Be aware of a drop down to the 49,000 range where the bullseye is. This is where the Volume Profile Visible Range red line and ascending trend line cross. If you don't think this could happen, look to the left at 22 Feb. This 49,000 level is highly significant for the amount of buyers and volume as evidenced by the indicator to the right and BTC can't resist retracing back to volume . The air is pretty thin at the 57,000 altitude as you can see so a drop to pick up some liquidity is reasonable. Except for scalping, the area between the green and yellow lines should be a no trade zone at least for the next several days until BTC shows a trend lower or a confirmed break with 2 bullish candle close above ATH or wait for a retest. Happy trading and hope y'all have a wonderful, prosperous weekend. Trade safe friends...
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