Here for started something I have been mentioning, and was one of the many signs of the drop into the 35k zones.
OVERALL, on the bigger pictures. ; After forming a beautiful distribution, and getting tf of it's demand absorbed at 43k-44k, btc made a aggressive drop leaving it's cycle on heavy supply, going for 34k. Next weeks are going to be interesting as to watch if and how the accumulation cycle will take place. After being supply dominant dropping from 62k since November, a accumulation cycle absorbing gradually all the supply will take place before it moves up again. As for now, there's no evident signs that the accumulation, or at least a selling climax have actually starting forming. Supply still heavy, I do expect more move down to 32k, and also some retracement back to the 38k ish area. And what I would be looking for from there, IS HOW IT WILL THEN TEST BACK 30K-32K, seeing if there's signs of selling pressure climaxing & panicky selling calming down, giving signs that the downmove is forming it's end.
As for trading opportunities;
Supply is still heavy. Expecting more testing of 34k and considering 32k testing as well before it could start make a retracement up.
Simple as it is;
- Price moving back upside 35.7k on sign of strength would make me consider that the retracement is starting. Which would make me look for some buying scalp to 38k
- Price breaking under 34k would make me look for scalping some sell to 32k, being careful for supply exhaustion since i am expecting it calming down furthermore within that zone. Which would make me look for buys scalp entry there on selling weakness.
I do expect a cycle forming within 30k and 40k, so both zones should be tested, multiple times. But you have to be sure to be scalping on the right side into the cycle. But it will be really interesting for scalpers. Still early into the formation, with no signs that it actually started building a cause yet. Updates would be made gradually as price moves. Really interesting weeks coming overall.
Weekly
Monthly
As mentioned, updates will be made as price move furthermore. When an actual cycle gonna give signs that it is actually forming, I will make a clean ideas about it. There's gonna be a lot of Ping-Pong
OVERALL, on the bigger pictures. ; After forming a beautiful distribution, and getting tf of it's demand absorbed at 43k-44k, btc made a aggressive drop leaving it's cycle on heavy supply, going for 34k. Next weeks are going to be interesting as to watch if and how the accumulation cycle will take place. After being supply dominant dropping from 62k since November, a accumulation cycle absorbing gradually all the supply will take place before it moves up again. As for now, there's no evident signs that the accumulation, or at least a selling climax have actually starting forming. Supply still heavy, I do expect more move down to 32k, and also some retracement back to the 38k ish area. And what I would be looking for from there, IS HOW IT WILL THEN TEST BACK 30K-32K, seeing if there's signs of selling pressure climaxing & panicky selling calming down, giving signs that the downmove is forming it's end.
As for trading opportunities;
Supply is still heavy. Expecting more testing of 34k and considering 32k testing as well before it could start make a retracement up.
Simple as it is;
- Price moving back upside 35.7k on sign of strength would make me consider that the retracement is starting. Which would make me look for some buying scalp to 38k
- Price breaking under 34k would make me look for scalping some sell to 32k, being careful for supply exhaustion since i am expecting it calming down furthermore within that zone. Which would make me look for buys scalp entry there on selling weakness.
I do expect a cycle forming within 30k and 40k, so both zones should be tested, multiple times. But you have to be sure to be scalping on the right side into the cycle. But it will be really interesting for scalpers. Still early into the formation, with no signs that it actually started building a cause yet. Updates would be made gradually as price moves. Really interesting weeks coming overall.
Weekly
Monthly
As mentioned, updates will be made as price move furthermore. When an actual cycle gonna give signs that it is actually forming, I will make a clean ideas about it. There's gonna be a lot of Ping-Pong
Comment:
* posted two times the monthly. Oups. Heres the weekly.
Comment:
''Price breaking under 34k would make me look for scalping some sell to 32k, being careful for supply exhaustion since i am expecting it calming down furthermore within that zone. Which would make me look for buys scalp entry there on selling weakness. '' Which happened and was a nice selling scalp as mentioned.
And price did calm down within this area, for then making a rise from it going back into the range. Giving more confirmation that it is a spring formation. A spring that just propelled price higher. I do still expect a test back of that spring. Would look around 35.7 for light supply since theres was some good demand coming in, and it rise to 38k would not be that surprising. But I do prefer what would be the healthy thing to do for the cycle, and give a even more crunchy entry, which would be a retest of 34.8
And price did calm down within this area, for then making a rise from it going back into the range. Giving more confirmation that it is a spring formation. A spring that just propelled price higher. I do still expect a test back of that spring. Would look around 35.7 for light supply since theres was some good demand coming in, and it rise to 38k would not be that surprising. But I do prefer what would be the healthy thing to do for the cycle, and give a even more crunchy entry, which would be a retest of 34.8
Comment:
already thought it would not break 37.5 and I still do for now. Expecting it going back to 35k and going to look for light supply there
Comment:
plan did not change
Comment:
dropped from the second 37k sell entry perfectly. Around the 35k would like to see if theres still fuel for supply bringing price lower, since I could expect some retracement to 37k.
Expecting a drop to 34k area overall
Expecting a drop to 34k area overall
Comment:
Wicked 39k with a result of demand absorption as expected.
Looking on other sell entries around 37.8k on light demand, or at a break under 37.5k-37k on heavy selling volume.
Plan did not change. Still expecting a drop to 35k-34k. Which is gonna mid-range of the overall big long term range.
Market looking clean and doing what it is supposed to do. Lots of clean scalp opportunities coming up.
Looking on other sell entries around 37.8k on light demand, or at a break under 37.5k-37k on heavy selling volume.
Plan did not change. Still expecting a drop to 35k-34k. Which is gonna mid-range of the overall big long term range.
Market looking clean and doing what it is supposed to do. Lots of clean scalp opportunities coming up.
Comment:
Range started as awaited. Now we here.