In the highlighted area I have pointed out candles that I have called many times correctly short.
However in this case, we seem to have had a reversal and there's plenty of criteria supporting the claim.
Check my linked ideas to see the criteria for at least a short term bull case with BTC .
Check the linked articles describing how these types of areas with short stubby candles and wicks on each side indicate that a trend change is in the cards. The difference is this time, BTC has made a strong case for a reversal and we may have found a bottom.
Also I think it is important to note that short liquidations are on the rise. Check out these charts plotting short liqs over price. One spans from late Nov. 2021 until now and the other goes back to June 2021 Credit: CryptoQuant.com
imgur.com/a/mft8wrJ
As you can see when short liqs spike up enough to touch the price over lay on the chart. A rise in price follows.
Even though the longer term graph makes a much stronger case for this scenario. What we could be seeing is the beginning of a wave of short liquidations thus pushing the price higher as short sellers will have to buy BTC to close their position.
I am fairly confident and have been historically accurate in these spots.
Please check out my other linked ideas for more criteria supporting the bull case for BTC moving to $46 zone
However in this case, we seem to have had a reversal and there's plenty of criteria supporting the claim.
Check my linked ideas to see the criteria for at least a short term bull case with BTC .
Check the linked articles describing how these types of areas with short stubby candles and wicks on each side indicate that a trend change is in the cards. The difference is this time, BTC has made a strong case for a reversal and we may have found a bottom.
Also I think it is important to note that short liquidations are on the rise. Check out these charts plotting short liqs over price. One spans from late Nov. 2021 until now and the other goes back to June 2021 Credit: CryptoQuant.com
imgur.com/a/mft8wrJ
As you can see when short liqs spike up enough to touch the price over lay on the chart. A rise in price follows.
Even though the longer term graph makes a much stronger case for this scenario. What we could be seeing is the beginning of a wave of short liquidations thus pushing the price higher as short sellers will have to buy BTC to close their position.
I am fairly confident and have been historically accurate in these spots.
Please check out my other linked ideas for more criteria supporting the bull case for BTC moving to $46 zone
Comment:
Also note that BTC is holding the EMA very well which is the moving avg that is much more sensitive to price. I think all signs point up for now.
