I was wrong.
The Bitcoin bulls showed up. Over the last few weeks we've seen Bitcoin climb it's way up. Zooming into the lower timeframes we will see bursts of the bull volume we've been looking for (should you be a long term bull).
At this moment Bitcoin sits around sits around $65.8k with the local top not being determined as of yet. Should you stick to the higher time frames like the Weekly, I would be looking for either a double top or a wyckoff distribution type of pattern. Regarding the wyckoff distribution pattern, I'm referring to the multiple tests of the resistance with fake rallys included over time with low volume but this move takes significant time to execute.
As always, keep tabs on volume and the resistance/support levels.
Happy Trading
The Bitcoin bulls showed up. Over the last few weeks we've seen Bitcoin climb it's way up. Zooming into the lower timeframes we will see bursts of the bull volume we've been looking for (should you be a long term bull).
At this moment Bitcoin sits around sits around $65.8k with the local top not being determined as of yet. Should you stick to the higher time frames like the Weekly, I would be looking for either a double top or a wyckoff distribution type of pattern. Regarding the wyckoff distribution pattern, I'm referring to the multiple tests of the resistance with fake rallys included over time with low volume but this move takes significant time to execute.
As always, keep tabs on volume and the resistance/support levels.
Happy Trading