Closely looking at the market we can see a nice formation of ADAM and EVE with target pointed widely up to around 13k zone.
I will keep updating this post as market develop.
Kindly follow the suggested Buy Back zone zone on the chart if you are yet to Long on BTC and always remember to apply stop loss according to your risk mitigation.
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We should keep close attention to those zone.
Act now and do not be left out.
The link can be found below on my signature zone.
Team work pay better.
Hmmm where is this guy with volume talk.
Who added volume now. Lol keep reading textbooks. I hope you are still shorting Mr Book.
of course you dont have to read this, but it changed my trading forever and you can free up your charts and think much clearer. volume paired with the candles shows you what is going on with the bulls and bears and who is in control.
"In Fig 4.12 we have our first anomaly which can be explained as follows. It is clear we have a wide spread up candle, and if we follow Wyckoff's third rule then this result, should be matched by an equal amount of effort. What we have instead is a big result, from little effort. This is an anomaly. After all for a wide spread up candle, we would expect to see a high volume bar, but here we have a low volume bar. Immediately the alarm bells start ringing, since something is not right here.
One question to ask is why do we have low volume when we should expect to see high volume. Is this a trap up move by the markets, or the market makers? Quite possibly, and this is where you can begin to see the power of such simple analysis. In one price bar, we can immediately see that something is wrong. There is an anomaly, because if this were a genuine move higher, then the buyers would be supporting the move higher with a high volume bar. Instead there is a low volume bar.
If we were in a long position in the market and this appeared, we would immediately start to question what is happening. For example, why has this anomaly appeared? Is it an early warning of a possible trap? This is a pattern which often occurs at the start of trading in equity markets. What is happening here is that the market makers are trying to 'feel out' the sentiment in the market. The above could be from a one minute chart for example. The market opens, then the price is pushed higher to test interest in the market from the buyers. If there is little or no buying interest, as here, then the price will be marked back down, with further price testing."
and thats for one single candle. it can be applied to all time frames.