Long biased targeting 12850-13050 (blue zone) .
Further action? Price comes back to retest 12000-12200.
so btc outperformed expectations. Was initially expecting targets of yellow area 11300-11500 but i guess btc was trying to reach it's own stretch goals of 12000-12200, the next .
After reaching that zone, it came back to test the 11300-11500 yellow zone as demand.
Now it's consolidating between the zones in a symmetrical triangle move, waiting for breakout.
1) Upon test of 12000-12200 zone, price spiked through it and now, it consolidates just under it, absorbing supply in the zone. Furthermore, there was a 4h close inside the zone signalling supply exhaustion. Upon sufficient absorption, demand will exceed supply.
2) Upon retest of the 11300-11500 , price left it and never returned, means that even if price tests again, highly unlikely it will go through yet. There was also no candle close within the .
3) We're in an uptrend with a SFP at 9200. We've been making HH and HL ever since.
Safe trading everyone.