Hello everyone, and let's try to determine the direction of the vector BTCUSDT!
Globally BTC was pushed in accumulation and therefore we have three reference points, i.e.:
uplink channel;
descending channel;
triangle.
There are some signs of distribution:
output volume;
consolidation since May (which didn’t happen after the fall);
Wyckoff model. The only confusing thing is that there was no big rise (UTAD). It might not happen, but there is also a BUT
(But) In that case it behaves like funds do, which don’t care about bankruptcy of big companies, high level of unemployment, coronavirus, etc.
There are lots of signals for good correction, but this market can not remain logical anymore.The market is obviously waiting for something, most likely it is waiting for companies’ reports. And it is a strong basement, I am gonna watch it (if you interested in it, leave comments and I will try to update the post as it will go).
Currently I am planning to work in the zones marked on the chart.
Test and fixation under $9150 will lead to $8900-$9000 and lower.
Fixation at $9270 and fixation in the block and above the block will let test $9400-$9500-$9600 with an opportunity of swaying liquidity. Also I am going to observe how it will go in reference points and update this post (there is a downward wedge of 2 hours now).
Thank you for attention!
If it was useful for you, please, like it and turn on notifications
Globally BTC was pushed in accumulation and therefore we have three reference points, i.e.:
uplink channel;
descending channel;
triangle.
There are some signs of distribution:
output volume;
consolidation since May (which didn’t happen after the fall);
Wyckoff model. The only confusing thing is that there was no big rise (UTAD). It might not happen, but there is also a BUT
(But) In that case it behaves like funds do, which don’t care about bankruptcy of big companies, high level of unemployment, coronavirus, etc.
There are lots of signals for good correction, but this market can not remain logical anymore.The market is obviously waiting for something, most likely it is waiting for companies’ reports. And it is a strong basement, I am gonna watch it (if you interested in it, leave comments and I will try to update the post as it will go).
Currently I am planning to work in the zones marked on the chart.
Test and fixation under $9150 will lead to $8900-$9000 and lower.
Fixation at $9270 and fixation in the block and above the block will let test $9400-$9500-$9600 with an opportunity of swaying liquidity. Also I am going to observe how it will go in reference points and update this post (there is a downward wedge of 2 hours now).
Thank you for attention!
If it was useful for you, please, like it and turn on notifications