BTC has been going no where since a week. When will it decide to move?
In the next days, i'm still thinking about its retest of the trendline since January 2023 (around $27000-$28000).
Before this, probably BTC continues to consolidate around the EMA 50D to finalize a re-distribution phase (after the first distribution one from the range 30k-31k).
Comment:
The latest move (of yesterday) is tricky. But the trend is as expected. I adjusted the 'SOW in phase B' point with the new data:
Comment:
BTC has been chopping but the Distribution scenario is still intact.
An update: UTAD Test seems to be done. BTC prices should resume its downway to the final target $27000-$28000.
An update: UTAD Test seems to be done. BTC prices should resume its downway to the final target $27000-$28000.
Trade closed manually:
The distribution was done however the bounce at the trendline did not happen as expected. This plans is closed.
