A lot of strength in this recent price action considering the following factors
- large short squeeze (all funding rates were negative)
- on chain metrics indicated a lot of accumulation
- B word event highlighting institutional interest and accumulation could result in fomo event. Interestingly since the B word event we made the 30k low and havde been...
EP 32166 31500 30700
TP 32500 32800
$BTC is fighting Hard to break the resistance at the 33,000 level . After the rebound from the 29243 level which came along the B Seminar, which held few days ago involving Jack Dorsey , Elon Musk and other notaries, $BTC printed over 10% bullish trend which saw it rose to 32858...
BTC has been trading within the 31000 and 32676 range for close to a week now , The Resistance at 32464.52 has been so strong that the rejection remains for days, The support however at $31000 is holding so strong and we've seen lot of pull back from this range for days.
BTC faces yet another rejection at 31906 today and its currently in a downtrend, BTC is...
Daily structure flipped bullish now
Too many people bearish at the bottom of the range, as it printed a HL, between the 0.5 and the OTE
There was a nice entry on the 1H via a BMS and return to origin just above 33K
Now we have hit mid-range
I look to long the inefficiency get filled which will likely happen tomorrow morning, and expect price to push on and flip...
H12 BMS upwards - bullish
Now moved down to 0.5/nearing OTE of that leg - which lines up with a 4H orderblock within the 12H bullish orderblock
On the m15 I have a structure which gives the entry and SL shown, just got to wait for price to return to it as the m15 has moved away aggressively
I've treated the daily LH as a cap for now, where I see the market finding...