Dear Valued Friends,
I am pleased to share insights into the current state of BTC trading. Through meticulous analysis encompassing volume metrics and structural levels, it appears that BTC may be near its peaked in this bull run, at approximately 52822. If this is indeed correct we could see a drop to level of around 30760. Presently, there is a notable premium in the price, coupled with a considerable decline in buy-side volume.
This assessment is primarily based on the weekly chart, a timeframe often favored by institutional investors, supplemented by observations from the daily timeframe. However, it is crucial to reiterate that the information provided here does not constitute financial advice. Moreover, it is essential to exercise caution and acknowledge the inherent risks associated with trading cryptocurrencies.
Furthermore, calculating the potential percentage drop from 52822 to 30760 yields a significant figure of approximately 42%.
Thank you for your continued support and trust.
Warm regards,
Lord MEDZ
I am pleased to share insights into the current state of BTC trading. Through meticulous analysis encompassing volume metrics and structural levels, it appears that BTC may be near its peaked in this bull run, at approximately 52822. If this is indeed correct we could see a drop to level of around 30760. Presently, there is a notable premium in the price, coupled with a considerable decline in buy-side volume.
This assessment is primarily based on the weekly chart, a timeframe often favored by institutional investors, supplemented by observations from the daily timeframe. However, it is crucial to reiterate that the information provided here does not constitute financial advice. Moreover, it is essential to exercise caution and acknowledge the inherent risks associated with trading cryptocurrencies.
Furthermore, calculating the potential percentage drop from 52822 to 30760 yields a significant figure of approximately 42%.
Thank you for your continued support and trust.
Warm regards,
Lord MEDZ
Comment:
COULD THIS BE IT?
Comment:
or is this it?
Comment:
Comment:
Attention. BTC has breached the weekly volume imbalance. However, since this pertains to a weekly timeframe, confirmation of violation may only be certain by week's end. While the wicks initiate the move, the body provides the narrative. In essence, if the body of the weekly candle closes within the weekly volume imbalance, there remains a possibility of retracement as depicted on the chart. A closure above would signal bullish sentiment.
Trade closed: stop reached
Lord MEDZ